How do you feel about insuring Lloyds banking groups riskiest asset?

The BBC has just reported that the tax payer is going to take an even bigger stake in the Lloyds banking group. The treasury hopes that by insuring up to 260 billion pounds to protect the banks riskiest assets. That this will help increase confidence in an already shattered banking system. When we are all being asked to tighten up our own personal finance, we are then seeing tax revenues being ploughed into

 

The government is still desperately trying to avoid having to Nationalize the banks as this will cause it further embarrassment. But as the BBC report there are some which say that a full nationalization of the banks will do more to restore confidence then the government’s asset protection scheme.

 

Let us know what you think about chancellor’s latest announcement?