It always works that way in practice, but I still think announcing the guarantee so early may have been a thing to calm the market. It is likely they just looke

It always works that way in practice, but I still think announcing the guarantee so early may have been a thing to calm the market. It is likely they just looked at the assets and figured out how to cover it all without dipping into some other gov $$, as part of the sale of the business. And something to do with finding a buyer for the mortgage security that they had (just speculating).