Sunday, Oct 18, 2009

Cracks re-appearing

Telegraph: Lloyds short-selling doubles as traders predict share collapse

Short-selling in Lloyds Banking Group doubled last week in a sign that traders and hedge funds expect shares in the 43.5pc state-owned bank to collapse when it launches a £25bn fund-raising in order to escape the Government's asset protection scheme. The Financial Services Authority (FSA) and the Government are understood to have expressed grave concern that Lloyds may not be able to raise enough cash to extradite itself from the scheme. The Treasury and the FSA were last night holding emergency talks about an escape plan, which has yet to be given the green light by either body.

Posted by wanderinman @ 01:30 PM (1528 views)
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