UK taxpayers stand behind more than £167bn of toxic assets in the US, Ireland, the Middle East and beyond, it emerged as the Treasury disclosed details of what Royal Bank of Scotland has dumped in the state insurance scheme for bad debts, reports the Daily Telegraph. The Treasury on its website on Monday revealed the full make-up of the portfolio of assets now under the governmentâs Asset Protection Scheme, including the fact that most of the £282bn of assets RBS has placed under the scheme are loans secured outside the UK. http://ftalphaville.ft.com/blog/2009/12/08/87481/uk-backs-167bn-of-overseas-bad-debt/ UK rules the world. Long live the Queen !