I've been reading some worrying things about RBS over the weekend, and if I can get a reasonable price on Monday morning I may well sell off some of my shares. I'm already nervous about quite how large my stake is as a percentage of my total portfolio.
Paul Mason's blog suggests that he knows "for a fact" that the government is considering taking an equity stake in major UK banks and financial institutions.
http://www.bbc.co.uk/blogs/newsnight/paulmason/2008/10/pretty_big_steps_does_the_real.html
Alastair Darling says he is looking at a "range of proposals".
http://news.bbc.co.uk/1/hi/uk_politics/7653194.stm
European leaders say they are prepared to lift borrowing restrictions.
http://news.bbc.co.uk/1/hi/world/europe/7648249.stm
What I find scary is that on the one hand government talks about providing all the liquidity that the banks need, whereas on the other it wipes out shareholders in Northern Rock and Bradford and Bingley - when as far as I can tell their main problem was one of liquidity. They seem to be a bit more willing to bend the rules for the big banks, but I don't really like the inconsistency.
Government also seems determined not to tell the market anything - Robert Peston blogs about pretty much everything of substance before the government announces anything.
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