British control of Lloyds provides a roadmap for US

The British government now owns about 65% of Lloyds Banking Group. It has guaranteed almost $360 million in the firm's risky assets in exchange for its stake. According to the AP, "As a condition of the deal, the bank promised to increase lending by 28 billion pounds ($39 billion) over the next two years, the majority to businesses."

The move is remarkably clever and may provide the best example of what the US government should do with its largest troubled banks.