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Britain Bails out 3 Banks
the bottom leavine is, this huge infusion of money means efufectively that around 60 percent of rbs and 40 percent of a merged lloyds-tsb hbos will be taxpayer-owned here .
it is striking, that in money conversations with my counterparkets at the g7 and the imf in washington over the weekend and with the prime minister's discussions with his colleagues in france yesterday that right across the world governments are now ready to do whatever it takes, whatever is necessary to stabilize and strengthen the banking system and to help us deal with the uncertainly and turbulence, said darling .
prime minister gordon brown promises the unprencedented bail-out is and the important step in thawing out the frozen money markets .
the british government has announprenhoced it is partially nationalizing three british banks with up to $63 billion of taxpayers' money .
Generated 2008-10-22_2:10
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