There is a reason for this, there is much to hide for both sides. Yesterday C@W pointed out that the current policy is the incorrect solution to the problem, today I have done a very preliminary skim of the numbers to come up with some fag packet costings:
Total investment in RBS - £25 billion. At some point in the future the bank will be sold off again, I would expect most if not all of this money to be recovered in time. However in the meantime it is an interest free loan for 5 years. So in effect, costing the taxpayers 2-3% per annum. So if it is 5 years before it is all repaid, then it will cost between £1 to 2 billion irrecoverable.
RBS Asset Protection - The treasury is expecting to make a £25 billion loss on this and the cost of insurance is £6.5 billion.
LLoyds Investment similar to RBS, although half the money, so another billion. No asset protection to stop the company going bust though - a real longer term concern as they also released interim results which are very complacent.
Then there is the Northern Rock mess, as I have said before, it looks like a £3 billion loss at least.
So overall, a £30 billion loss will be shouldered by the taxpayers and this is on a reasonable expectation that the smaller banks of the future are saleable.