So, our money is to be invested in bank Prefs, and the talk is of "investment" and "commercial terms" (though no warrants).
Here's what the market says about RBS prefs: for example, its 6.6% issue, traded on the NYSEPar $25, price @ close of business yesterday $5.25: yield = 31.4% !
6.6% seems such a long time ago, eh ? Let's check again this evening ... and then see what the 'Brown Issue' looks like.
++ UPDATE 15:30 Has Peston been blocked from City screens ??? ++