The surreal part was to see the morning Guardian with last night's £50bn headline next to the afternoon's Evening Standard with Darling's 7:30am £500bn.
The evening standard calls it 'half-nationalisation' as the £25bn (extendable to £50bn) recapitalisation facility will be in exchange for preferred shares.
City traders call this too little, too late. You heard that right. Too little.
Countdown to wholesale nationalisation... A vivid image of what should exist acts as a surrogate for reality. Pursuit of the image then prevents pursuit of the reality -- John K. Galbraith
(on one of the valleys leading over the hills to mid wales for at least ten years there used to be a farm with an evening standard sign board leaning against the side of the house. The sign always said "Horse Manure available inside" I always meant to take a picture, but it was always too dark when I passed. Finally when I went out with the camera in daylight, the farmer had sold the sign). Any idiot can face a crisis - it's day to day living that wears you out.
