British Bank Nationaliztion

The British government has, today, partially nationalized its banks. According to the Financial Times 

"Under the UK bank rescue, the government is to put up to £250bn ($437.22) into the banking system in an effort to keep banks lending. It will also offer a guarantee to banks issuing medium term debt, which could mean backing a further £250bn of bank borrowings." 

That's nearly $1 trillion.

As Paul Krugman points out, Britian may be leading the way.