No Economic Patriotism Please, We're British
On the day it was nationalised, Bradford & Bingley was still advertising for new business - on Paramount Comedy.
The immediate re-sale of its savings and business network to a Spanish bank, which already owns two other British high street players, is globalisation at the point of the sword. It's a car boot sale of what is probably the most valuable part of the business.
In all likelihood, the Spanish would deem it both culturally and politically unacceptable for a British bank to own three of their major high street brands. If it is considered politically necessary for the Bradford & Bingley to be nationalised to save it from its previous management's folly, then so be it - but there will be considerable resentment against what will quite rightly be perceived as yet a further extension of the powers wielded by companies based in one particular foreign country over the British economy; powers that that country would never allow to be reciprocated.
We are being cannibalised, gobbled up by the world one piece at a time.