Finance Titans Vie for Leftovers of U.K.'s Subprime Poster Child

Updated on
  • U.K. government selling $18 billion of Northern Rock mortgages
  • Goldman Sachs, JPMorgan, Morgan Stanley among possible bidders

The Morgan Stanley headquarters in New York City.

hotographer: Daniel Acker/Bloomberg

It is flotsam of the subprime age -- $18 billion of mortgages bundled into complex finance vehicles that crashed in value during the financial crisis. Now, more than seven years after Northern Rock Plc succumbed to the first British bank run in 140 years, some of the giants of global finance are vying for a piece of the action.

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