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Sunday, October 05, 2008

Report: UK Government Considering Plan to Recapitalize Banks

by Calculated Risk on 10/05/2008 07:39:00 PM

From the Telegraph: Financial crisis: Government could take shares in high street banks

Alistair Darling, the Chancellor, could give the banks billions of pounds in return for shares in an emergency bailout plan to be enacted if the financial crisis worsens, The Daily Telegraph has learnt.

The Treasury has drawn up detailed plans for the scheme, which would put taxpayers' money at risk.
The Treasury plan to take shares in major high street banks will be discussed by the council.
This is more like the Swedish solution, or the RFC in the U.S. during the Depression, as opposed to the TARP.