Just speaking on the Today programme the Shadow Chancellor George Osborne said (not verbatim):
- The recapitalisation is the right thing to do and I hope it works.
- The £200bn of loans from the Bank of England for the interbank market are more important than the £50bn recapitalisation in order to get the credit markets flowing again.
- The banks being recapitalised should not pay big bonuses to their staff.
- Calls to suspend Bank of England independence are wrong. It is for the Bank to decide interest rates.