Bank of England and government support for the banks so far totals something like the equivalent of £18,000 for every child, woman, and man in the UK.
The Bank of England's Financial Stability Report of 27 October 2008 gives the figures: a total of £1107 billion.
It can’t be right? After all, the average household in the UK is about 2.4 people. That average household doesn't have £43,000 (£18,000 times 2.4) to give to the banks, even if it wanted to.
Indeed, the Government and the Bank of England have not been packing up £1107 billion in banknotes to hand over to the banks. The entire total of