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US investor pulls out of Bradford & Bingley rescue

Bradford & Bingley's shares fell 18% yesterday after a US investor abandoned a scheme to rebuild the capital cushion of the UK's largest buy-to-let lender.

Bradford & Bingley's shares fell 18% yesterday after a US investor abandoned a scheme to rebuild the capital cushion of the UK's largest buy-to-let lender and its existing shareholders stepped in to foot the bill.