This article is from the source 'bbc' and was first published or seen on . It will not be checked again for changes.

You can find the current article at its original source at http://news.bbc.co.uk/go/rss/-/1/hi/scotland/7970424.stm

The article has changed 2 times. There is an RSS feed of changes available.

Version 0 Version 1
Brown offer to Dunfermline savers Brown offer to Dunfermline savers
(about 4 hours later)
Prime Minister Gordon Brown has moved to reassure savers in the Dunfermline Building Society their money is safe.Prime Minister Gordon Brown has moved to reassure savers in the Dunfermline Building Society their money is safe.
The government hopes to be able to announce a buyer for the Dunfermline by Monday.The government hopes to be able to announce a buyer for the Dunfermline by Monday.
Scotland's largest building society collapsed after incurring losses last year estimated at £26m.Scotland's largest building society collapsed after incurring losses last year estimated at £26m.
The Treasury has ruled out a taxpayer-funded bailout of between £60m and £100m after regulators decided the move was not viable.The Treasury has ruled out a taxpayer-funded bailout of between £60m and £100m after regulators decided the move was not viable.
'Deeply disappointed'
Mr Brown, speaking from Chile, said: "The savers will be protected. It is important to recognise that throughout this whole crisis everyone that has been saving in a UK institution has been protected, whenever there has been a difficulty in that institution.Mr Brown, speaking from Chile, said: "The savers will be protected. It is important to recognise that throughout this whole crisis everyone that has been saving in a UK institution has been protected, whenever there has been a difficulty in that institution.
"I repeat that it is our determination in restructuring the banks to make sure that people's savings will be even safer in the years to come.""I repeat that it is our determination in restructuring the banks to make sure that people's savings will be even safer in the years to come."
Jim Murphy: Government's priority is to protect savers and jobs
The Dunfermline, which was founded in in 1869, employs about 500 people and has 34 branches.The Dunfermline, which was founded in in 1869, employs about 500 people and has 34 branches.
The Scottish government said it was "deeply disappointed" the Dunfermline could not continue as a going concern.The Scottish government said it was "deeply disappointed" the Dunfermline could not continue as a going concern.
Jim Murphy: Government's priority is to protect savers and jobs
The tri-partite regulators - the Bank of England, the Financial Services Authority (FSA) and the UK government - have forced the sale of the Dunfermline, after it emerged a multi-million pound loss was expected and further problems were likely to emerge.The tri-partite regulators - the Bank of England, the Financial Services Authority (FSA) and the UK government - have forced the sale of the Dunfermline, after it emerged a multi-million pound loss was expected and further problems were likely to emerge.
BBC Scotland business editor Douglas Fraser, who broke the story, said the regulators believed a bailout would have only delayed a forced sale.BBC Scotland business editor Douglas Fraser, who broke the story, said the regulators believed a bailout would have only delayed a forced sale.
He said a key problem was the building society's exposure to risky assets, after it lost more than £9m in its own IT business and bought mortgage securities from two troubled American finance houses, GMAC and a subsidiary of Lehman Brothers.He said a key problem was the building society's exposure to risky assets, after it lost more than £9m in its own IT business and bought mortgage securities from two troubled American finance houses, GMAC and a subsidiary of Lehman Brothers.
Management decisionsManagement decisions
The building society could be broken up in the same way as the Bradford and Bingley, which saw Spanish bank Santander taking over its savings accounts and branches, and the government taking temporary control of its mortgages and loans.The building society could be broken up in the same way as the Bradford and Bingley, which saw Spanish bank Santander taking over its savings accounts and branches, and the government taking temporary control of its mortgages and loans.
Secretary of State for Scotland, Jim Murphy, said bad management decisions had "jeopardised the Dunfermline's entire future" and a bailout would be unsustainable.Secretary of State for Scotland, Jim Murphy, said bad management decisions had "jeopardised the Dunfermline's entire future" and a bailout would be unsustainable.
Labour MSP for Dunfermline East, Helen Eadie, said many of her constituents were worried about the future of their jobs.Labour MSP for Dunfermline East, Helen Eadie, said many of her constituents were worried about the future of their jobs.
First Minister Alex Salmond said the Scottish government had offered money to help keep the Dunfermline going, but that it would require Treasury approval.First Minister Alex Salmond said the Scottish government had offered money to help keep the Dunfermline going, but that it would require Treasury approval.
Have you been affected by this story? Are you a Dunfermline customer? Send us your experiences belowHave you been affected by this story? Are you a Dunfermline customer? Send us your experiences below
The BBC may edit your comments and not all emails will be published. Your comments may be published on any BBC media worldwide. Terms & ConditionsThe BBC may edit your comments and not all emails will be published. Your comments may be published on any BBC media worldwide. Terms & Conditions