Earlier today (3rd November 2008), Alistair Darling announced details of the new company that will hold the taxpayer's investments in the banking sector. This new organisation, publicly owned, but managed autonomously by Philip Hampton, Sainsbury's chairman and ex-Lloyds TSB Finance Director, is set to dominate the UK banking industry for the foreseeable future.
Full report from the BBC
The BBC's Robert Peston's take on the new company
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