More than £66 billion of taxpayers' cash invested in RBS and Lloyds may never be recovered, a spending watchdog warned today as it criticised the Treasury for making a series of costly mistakes in its handling of Northern Rock.
A Treasury spokesman has said that the sale of Northern Rock "represented good value for money."
He said: "We will provide a full response to this report in due course.
"The decision to nationalise Northern Rock in 2008 was taken in the interest of financial stability.
"The sale of Northern Rock plc to Virgin Money last year represented good value for money for the taxpayer, and has helped increase high-street competition."
The Democratic presidential candidate may also have shown his cards on his choice of running mate.
The US president also shared a post on Twitter accusing Dr Anthony Fauci of misleading the public over hydroxychloroquine.
Fears over an impending second wave of coronavirus dominates Wednesday’s front pages.