DUNFERMLINE BUILDING SOCIETY SELL-OFF.

DUNFERMLINE BUILDING SOCIETY SELL-OFF.

UK TREASURY'S APPALLING BEHAVIOUR IN THE FRAME.

Commenting on the comments made by the Chairman of the Dunfermline Building Society, Jim Faulds, on the Politics Show today (Sunday) the SNP's Treasury spokesperson Stewart Hosie MP said it was clear that his frustration was borne out of the appalling nature of the process undertaken by UK authorities, and in particular the behaviour of the Treasury. Commenting Mr Hosie said: "The process undertaken by the UK authorities has been appalling, and the behaviour of the Treasury is now well and truly in the frame for public scrutiny. It is abundantly clear that they have arrived at this pre-determined conclusion by leaking information to the media on Saturday afternoon. We need to know who did that briefing, and on whose orders. "There is a distinct impression of spin and lack of fair play - with huge implications for HQ jobs and social housing in Scotland. "It is clear that a public intervention was necessary to secure the Dunfermline, and the Scottish Government still stands ready to intervene. However, what we getting is an intervention by the Treasury to break up the society, endangering HQ functions, jobs and social housing in Scotland. The Chelsea and Newcastle Building Societies have already recorded similar losses, and have not been met with the threat of break-up. "The Treasury need to explain their behaviour, and explain what this means for jobs and housing in Scotland."

On 6 March 2009: * the Chelsea Building Society reported a loss of more than £29m for 2008; and * the Newcastle Building Society announced pre-tax losses of £35.7 million.

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It seems the Nationwide Building Society will be picking up the best parts with the UK Government picking up the bill for all the bad debts, you heard here here first on Scotland News Blog powered by Blogger.com