Bad Bank in UK
In 2010 the UK government established UK Asset Resolution, a state owned limited company to manage the assets of the two bankrupt nationalised mortgage lenders Bradford & Bingley and Northern Rock (Asset Management). This Bad Bank is responsible for managing £77bn of assets.
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Famous quotes containing the words bad and/or bank:
“Every man hath a good and a bad angel attending on him in particular all his life long.”
—Robert Burton (1577–1640)
“The English language is like a broad river on whose bank a few patient anglers are sitting, while, higher up, the stream is being polluted by a string of refuse-barges tipping out their muck.”
—Cyril Connolly (1903–1974)