Lloy

[Jaydee]

With another £10 billion writedown on the HBOS balance sheets anounced today, I just can't fathom what made the Lloyds Board buy into it. Was it due to political pressures from the UK government as they didn't want to have to bail out HBOS in full? Or was it due to the shortsightness of the Board who couldn't understand the full extent of the HBOS debt in the accounts? Either way, I'm surprised the LLOY shareholders didn't revolt over the proposition of a takeover bid of a stock riddled with risky, plumeting assets... It's turned a decent bank into a total dog - shocker!

More writedowns to come methinks...

Anyhow, rant over

 

[dr.blix]

maybe at first their 'eyes were bigger than their belly' and they thought they hbos was a steal.

or maybe they thought 'how can we lose?' we buy hbos, the government/taxpayer pics up the tab if it goes wonky because they'd never let an amalgamated bank that size fall and when it calms down in a few years we'll be an absolute monster.

 

[Hotch]

*all knowing smile*

Don't worry about it.