Tuesday, October 7, 2008
Roughly £2250 per household for the banks by my estimate
UK banks are set to agree a £50bn injection of taypayers' money under a bold plan to resolve the crisis in credit markets. Banking chiefs were this evening due to meet the Prime Minister to discuss the proposals, scheduled to be announced tomorrow morning, but subject to seeing the detail, are understood to have already agreed to be supportive. The plan could mean substantial dilution for some shareholders.