A massive bail-out of struggling banks is being considered by the Government.
A deal to lend financial institutions up to £40billion could be in place as early as next week.
Any taxpayer-funded rescue would be hugely controversial and seen as a "reward for failure".
Despite the credit crunch turmoil, banking bosses have been able to rack up millions of pounds in bonuses.
Vince Cable, the LibDem Treasury spokesman, said: "We cannot have a situation where the banks are able to privatise their profits and nationalise their losses.
"The Government must now insist on a orderly programme for identifying the losses in the banking system to ensure the banks themselves cover those losses.
"This looks like rewards for failure and irresponsibility."
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