Bradford & Bingley: how to ruin a reputation

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Bradford & Bingley: how to ruin a reputation

Hands were thrown up in horror around the City at Bradford & Bingley’s decision to cheapen its rights issue, even though Citigroup and UBS had fully underwritten it. But the real scandal is that B&B could have embarked on such an important transaction as a rights issue without scrutinising its core mortgage business more carefully and communicating the results to investors.

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