Public sector ownership of business assets has a lengthy pedigree in Britain, with the origins of a state-owned postal service being traceable back to the 17th century. History therefore seemingly should offer plentiful lessons for shareholders in the banks – Royal Bank of Scotland, HBOS and Lloyds TSB – taking up the £37bn capital lifeline now being offered by the UK government.

Actually, no. Existing shareholders in the banks participating in the bail-out will retain their shares, which will continue to trade on the stock market. This is, by British standards, very much the exception to the rule.