The Guardian is running a live blog on the market reaction to the government’ second bank bailout here.

Updated 15.25: The FT analyses what has happened to the Royal bank of Scotland, formerly the world’s biggest bank, here. The most interesting point is the almost complete (and effective) nationalisation of the institution in the thirteen months since the collapse of Lehman Brothers.

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• Daniel Hoffmann-Gill

  Pretty depressing state of affairs, makes me a bit sick they they sacrificed their bonuses so they could be bailed out again.

  WTF?

  Banking is most definitely not working.

• admin

  I think the bonuses for senior executives and those earning over £39,000 pa have been deferred ie. postponed rather than cancelled. It’s an interesting piece of word-weaselry.