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B&B shareholders’ £1bn claim

Shareholders from Bradford & Bingley have accused the government of forcing a "well capitalised and solvent" bank into nationalisation in what amounted to state sponsored theft. The Treasury said it took B&B into public ownership on the grounds that "the FSA determined the firm no longer met its threshold conditions for operating as a deposit taker". The action could cost the tax payer up to £1bn in compensation.