Prime Minister Gordon Brown has enacted a second financial bailout that includes taking a larger share in RBS and enabling the Bank of England to purchase securities, according to Bloomberg.
The government will own up to 70 percent of the Royal Bank of Scotland.
In return for access to any government support, there will have to be an increase in lending, and that will be legally binding, Brown says. I will not sit idly by and let people and businesses go to the wall.
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