Wednesday, Aug 05, 2009
Taxpayer loses again!
SKY: Lloyds Banking Group Reports Heavy Losses
"Part-nationalised lender Lloyds Banking Group has reported pre-tax losses of £4bn for the first half of this year. It said impairments on bad debt rose "significantly" to £13.4bn, largely due to reckless lending by HBOS".
Posted by alan @ 08:42 AM (516 views) Add Comment
3 Comments
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1. charlie brooker said...
Most if not all of those losses were down to HBOS business.
Lloyds forced into a marriage from hell.
2. icarus said...
Banks can be split into two main groups. One group - GS, JPM and three or four other investment banks - is making big money trading bonds, stocks and commodities and the other group is made up of banks stuck with bad loans and massive holes in their balance sheets. The similarity between the groups - neither is doing much for the non-finance part of the economy.
3. Friedrice said...
Surely when the share price of Lloyds goes up by 6% as it has today, then the Taxpayer wins.
A 6% rise on 43% of the company's value which the taxpayer owns must be good news.