UK Taxpayers To Bail Out Failing British Banks To The Tune Of £50 Billion
'The biggest nationalisation of modern times will be announced today with a £50billion state rescue of Britain's crumbling High Street banks. The Government will take the drastic step amid fears that without the injection of taxpayers' money some of the most recognisable names in banking could vanish in days, if not hours. The historic intervention will signal a new era for the banks and raises the spectre of the giant firms falling under the control of politicians and civil servants. The Treasury is expected to buy stakes in the Royal Bank of Scotland, Barclays, Lloyds TSB and Halifax Bank of Scotland.
