"The Government has taken a controlling share in Lloyds after pumping more public money into the banking giant. The taxpayer will 'insure' £260 billion of the bank's potentially "toxic" assets and up its ownership of the bank from 43 to 65 per cent - or 77 per cent including non-voting shares." Government takes control of Lloyds - Yahoo! News UK So HMG, now have a de facto controlling interest in three (if one counts HBOS/Lloyds merger) of the five 'big' high street banks at a taxpayer underwritten cost of over £550 Billion (close to 35% of national GDP!). The true figure in relation to these banking bailouts will end up at least double, perhaps even three times this figure - once the full balance sheets are ... 'transferred'. A de facto state owned majority position in high street banking - from a state which now has insufficient resouces to secure that position ... makes the 'Fred the Shred' pension fiasco look like a rounding error ... a situation from which the pension hoopla was intended to divert our attention (a la HH). Combined this with BoE rate cut leaving it little or no room for maneuver, QE about to kick in ... what could possibly go wrong ... I'm just glad I don't bank with any of them.