Nick Clegg has adopted the idea that the public should get shares in RBS which they could then sell and pay the government for the price of the share - a public option if you like.
But I am afraid it won't work. Some people will sell immediately - hey it's free right? - and the price will fall, once it falls, others will panic and sell, so completing the cycle and I doubt the public would even consider paying back the government if this happened.
So, sorry Nick, and unusually (for me) John Redwood, but I think you're wrong on this one.
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