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Banking Commission: Lloyds Merger A Mistake

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http://uk.finance.yahoo.com/news/Banking-Commission-Lloyds-skynews-4027630677.html?x=0

Banking Commission: Lloyds Merger A Mistake
Sky News
2011, 17:11, Saturday 9 April 2011
The Banking Commission will describe the merger of the banks Lloyds TSB (LSE: LLOY.L - news) and HBOS as a mistake in an interim report due on Monday, according to Sky sources.
The two banks merged in 2009 at the peak of the financial crisis.

There is a lot more that was a mistake than just this.

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hmmm no surprise there then? wonder how much the report cost to find out the blindingly obvious :lol: bit of a rush job

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http://uk.finance.yahoo.com/news/Banking-Commission-Lloyds-skynews-4027630677.html?x=0

Banking Commission: Lloyds Merger A Mistake
Sky News
2011, 17:11, Saturday 9 April 2011
The Banking Commission will describe the merger of the banks Lloyds TSB (LSE: LLOY.L - news) and HBOS as a mistake in an interim report due on Monday, according to Sky sources.
The two banks merged in 2009 at the peak of the financial crisis.

There is a lot more that was a mistake than just this.

...and Soros has him on his 'think' tank....more Titanic than tank..... :rolleyes:

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I had rather hoped he had died but no-one had noticed. But it seems he's like a virus that you can't kill. Do you think he should go into the horror movie business?

...think his term in office was that movie.... :rolleyes:

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http://www.thesun.co.uk/sol/homepage/news/3515968/Browns-4k-exes-in-just-two-months.html

He certainly knows how to get the poor struggling taxpayer to fund his life style. 2K a month in expenses to pay for his house in Kirkaldy (sp!). How he has no shame in taking money for a house that is his primary residence and a salary for a job he can not be bothered to do.

The man is a total shameless disgrace.

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hmmm no surprise there then? wonder how much the report cost to find out the blindingly obvious :lol: bit of a rush job

I suspect that they mean in regulatory terms, not because Lloyds bought a duffer.

tim

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The merger was a complete farce, Lloyds was press ganged into it I'd love to know what they where promised for doing it.

A monopoly on the high street for mortgages.

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Just before the merger, HBOS were selling preference shares like crazy. If they knew the Bank was in such a bad way, was this legal or deception? was there an investigation, was it squashed ?

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Just before the merger, HBOS were selling preference shares like crazy. If they knew the Bank was in such a bad way, was this legal or deception? was there an investigation, was it squashed ?

...no investigation or inquiry so far...Lloyds shareholders chasing.... :rolleyes:

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...no investigation or inquiry so far...Lloyds shareholders chasing.... :rolleyes:

Lloyds shareholders could get 'interesting' (and problematic for the taxpayer, if a court rules the state swindled them and must pay compensation).

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Just before the merger, HBOS were selling preference shares like crazy. If they knew the Bank was in such a bad way, was this legal or deception? was there an investigation, was it squashed ?

Preference shares are allowed by virtue to be sold on the back of privvy information. It is legal and no evidence of deception. The same way a first or business class ticket holder gets to board a plane before economy class. The more you pay the better information *seat you get.

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Preference shares are allowed by virtue to be sold on the back of privvy information. It is legal and no evidence of deception. The same way a first or business class ticket holder gets to board a plane before economy class. The more you pay the better information *seat you get.

Are you sure?

As far as I can see, the ordinary punter received a letter saying that they could buy extra shares at a good rate. Many did. No-one pointed out that in fact the Bank was already on the skids.

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...and Soros has him on his 'think' tank....more Titanic than tank..... :rolleyes:

Only as a contrary indicator though! :lol:

Whatever Brown thinks, do the opposite.

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So Daniels "mistakenly" accepted an offer that would make him king of the UK banking castle? Helen Weir, group finance director, "mistakenly" backed a deal that would crown her queen of UK retail banking?
Two people who clearly believe in
earning
from their mistakes.

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So Daniels "mistakenly" accepted an offer that would make him king of the UK banking castle? Helen Weir, group finance director, "mistakenly" backed a deal that would crown her queen of UK retail banking?

Two people who clearly believe in earning from their mistakes.

...if Brown and the Chairman came to an 'agreement'...the CEO and Finance would hardly say 'no' ..unlikely to feature in the report...but whoever did the due diligence should be sacked...and the whole board for accepting it.... :rolleyes:

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http://uk.finance.yahoo.com/news/Banking-Commission-Lloyds-skynews-4027630677.html?x=0

Banking Commission: Lloyds Merger A Mistake
Sky News
2011, 17:11, Saturday 9 April 2011
The Banking Commission will describe the merger of the banks Lloyds TSB (LSE: LLOY.L - news) and HBOS as a mistake in an interim report due on Monday, according to Sky sources.
The two banks merged in 2009 at the peak of the financial crisis.

There is a lot more that was a mistake than just this.

Mistake my a***. It was a government backed theft of Llyods shareholders' capital.

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Just before the merger, HBOS were selling preference shares like crazy. If they knew the Bank was in such a bad way, was this legal or deception? was there an investigation, was it squashed ?

Quite a few little people who owned shares from the demutualisation of the Halifax had their piggy banks raided by that share offer. Theft, theft and more theft by criminal insiders. It makes me want to puke.

Luckily, I managed to dissaude the parents of a good friend from buying into that fraud. Never asked whether they took my advice to sell their HBoS shares whilst they were at £2.50 or so though.

Edited by Tiger Woods?

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