(via www.dividendgrowthinvestor.com)
Over the weekend the British government announced that it was increasing its stake in UK bank Lloyds TSB (LYG) to 65% and possibly 77% in return for insuring over 367 billion dollars in toxic assets. The government will do that by converting some of its preferred shares in the bank into common. As part of the agreement, the bank will take a "first loss" of up to 25 billion pounds, with the U.K.
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