(UK) Treasury takes 65% Lloyds stake

[Ghost Dog]

Source: BBC

The taxpayer is taking a controlling share of 65% in Lloyds Banking Group, up from the previous 43%.

The government has said new lending from Lloyds will jump to £28bn in the next two years, dwarfing similar figures from Northern Rock and RBS.

The taxpayer will also insure toxic loans worth £260bn ($367bn).

...

"Basically they're going to install their people on the board of Lloyds banking group and say, right, we're going to see £28bn is set aside for lending."

Read more: http://news.bbc.co.uk/2/hi/business/7929820.stm

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Now that's a bit more like the real thing (nationalisation). But watch out for where the people they install are coming from, though.