Then it is probably no surprise that BOE Gov King has come out and said that RBS and Lloyds are nationalised in all but name and that in economic terms the banks were overwhelmingly under public control. For more details please click here.
For those who didnt see this piece yesterday, it points out that under the deal RBS has struck, it could see taxpayers’ effective ownership reach as high as 95%. Quack, quack, quack!
