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Monday, July 13, 2009

Paper Losses

UK Financial Instruments (UKFI), the body that manages the Government's shares in Britain's semi nationalised banks (RBS and Lloyds), is sitting on paper losses of £10.9BN.

The UKFI says that every household in Britain has over £3K invested in Lloyds and RBS shares

It is likely, given the shambolic state of the banks' finances, that Britain's households will hold their £3K "investment" for many years to come.

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