So, as Lloyds TSB gobbles up HBOS, creating one huge megabank (which holds the greater part of the Nige pelf, such as it is), I have one simple observation.
If HBOS was too big to be allowed to go under, this one will be the same with bells on - which means it can basically do what it likes with a vast pool of money, regardless of the consequences. But here's the rub - it might also be too big to save. In which case LloydsTSBHBOS could bring down a huge chunk of the economy with it.
Sorry - no more apocalyptic thoughts from me today. Promise.
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We await with interest the next Lloyd-Webber blockbuster, Requiem for a Bank, ending with the Kyrie TSB. I'm' off to that little town just west of the Our river.
ReplyDeleteMy treasure chest is with LloydsTSb too Nige......I keep anxiously consulting the internet banking service to see if its still there. If it isn't that Blank bloke will feel my hook at his throat.
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