okay, I have more information.

The UK rejected a US style bail out because the Prime Minister believed it was too risky and similar to the Japanese bail out (Japan debt is now 145% of GDP.)

In discussion with the Bank of England, bankers and the FSA; the Swedish bail out system will be introduced. Some, if not all, high street banks will have the UK government buy preference shares in the banks, inject capital, and then sell its stake when the markets are back to normal.

This £50 billion is less riskier, Treasury believes it will make a profit unlike the $700 billion Congress deal (which results in the government holding debt and now equity as insurance.)

Rumour I've been hearing from some contacts...

Germany could introduce this bail out package too. The Germans believe it is cheaper, less riskier and more profitable than the US package. Italy is very keen to join the alliance too.

EU Commission have backed the UK package and this is being interpreted as a green light for a Pan-European rescue now.