It is something of a 'reverse Thatcher' ... the government is in essence recapping the banking system using government money by shifting a bunch of assets out of private sector hands and into the hands of the state ... creating a class of affordable housing that allows alot of low income people access to good quality homes... politically very savvy, could help boost consumer spending (and arrest the deflationary slide) and cleans up a massive balance sheet problem that has been constraining growth ...



Not entirely surprising given this ...