Mubadala Development, in backing Richard Branson's Virgin Money, as it moves toward physical banking. Virgin Money may bid on Lloyd's and Northern Rock's bank branches.
One commenter on TelegraphUK said, "virgin financial products seem to have high charges and poor performance. its all about brand then." Actually, it's all about the billionaires, Branson, Rubenstein, Conway, D'Aniello. Schwarzman, Kravis, Black, Hutchins, etc.
The billionaires will "save" the banking system, which they helped implode with highly leveraged collateralized loan obligation, So what, if they make billions in the process, courtesy of government subsidies, as in the case of BankUnited and FDIC money?