HBOS - Lloyds TSB
18 September 2008, 01:28 PM
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HBOS - Lloyds TSB
Why do I get the feeling we are getting well and truly shafted ..........
Rumor has it HBOS were in trouble at the beginning of the week. Its then denied the next day. Then within 24hrs a 12.5BN deal is done with Lloyds TSB
Was this a big set up to get the british government to agree and over-rule the competition commission ?? 10 yrs from now they will be able to dictate to the Bank of England ...... they will charge what the fek they like and no one will be able to stop them.
Then another 10yrs on, Tesco will buy the banks and we will be run by a Supermarket !!!
Boomed I tell ye... doomed
Rumor has it HBOS were in trouble at the beginning of the week. Its then denied the next day. Then within 24hrs a 12.5BN deal is done with Lloyds TSB
Was this a big set up to get the british government to agree and over-rule the competition commission ?? 10 yrs from now they will be able to dictate to the Bank of England ...... they will charge what the fek they like and no one will be able to stop them.
Then another 10yrs on, Tesco will buy the banks and we will be run by a Supermarket !!!
Boomed I tell ye... doomed
Last edited by Wish; 18 September 2008 at 01:34 PM.
18 September 2008, 02:13 PM
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PM denies lobbying to protect Scottish jobs | News
“Labour strategists feared that their lingering hopes of holding onto Glenrothes would be ruined by the job losses and the huge blow to national pride triggered by the English takeover of a bank that was founded in 1685.”
“Huge blow to national pride”? Christ on a bike. Anyone who objects to HBOS being taken over by Lloyds TSB “because they’re English” is a Terry F*ckwit who deserves to be culled for fear that he or she might breed. And how about the promised protectionism for Scottish jobs? Are the Scots employees in some way more deserving than those employed in the South East, for example?
delightful how our British party is led by a man dedicated to putting one Country (his own) above all others
“Labour strategists feared that their lingering hopes of holding onto Glenrothes would be ruined by the job losses and the huge blow to national pride triggered by the English takeover of a bank that was founded in 1685.”
“Huge blow to national pride”? Christ on a bike. Anyone who objects to HBOS being taken over by Lloyds TSB “because they’re English” is a Terry F*ckwit who deserves to be culled for fear that he or she might breed. And how about the promised protectionism for Scottish jobs? Are the Scots employees in some way more deserving than those employed in the South East, for example?
delightful how our British party is led by a man dedicated to putting one Country (his own) above all others
18 September 2008, 02:27 PM
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PM denies lobbying to protect Scottish jobs | News
“Labour strategists feared that their lingering hopes of holding onto Glenrothes would be ruined by the job losses and the huge blow to national pride triggered by the English takeover of a bank that was founded in 1685.”
“Huge blow to national pride”? Christ on a bike. Anyone who objects to HBOS being taken over by Lloyds TSB “because they’re English” is a Terry F*ckwit who deserves to be culled for fear that he or she might breed. And how about the promised protectionism for Scottish jobs? Are the Scots employees in some way more deserving than those employed in the South East, for example?
delightful how our British party is led by a man dedicated to putting one Country (his own) above all others
“Labour strategists feared that their lingering hopes of holding onto Glenrothes would be ruined by the job losses and the huge blow to national pride triggered by the English takeover of a bank that was founded in 1685.”
“Huge blow to national pride”? Christ on a bike. Anyone who objects to HBOS being taken over by Lloyds TSB “because they’re English” is a Terry F*ckwit who deserves to be culled for fear that he or she might breed. And how about the promised protectionism for Scottish jobs? Are the Scots employees in some way more deserving than those employed in the South East, for example?
delightful how our British party is led by a man dedicated to putting one Country (his own) above all others
What would you like to see happen, then?
BoS employees made redundant and thier jobs moved to London?
I'm not sure what the issue is here (I mean it's been denied) but as far as I can see, Lloyds have said that the BoS headquarters in Scotlansd will remain.... Am I supposed to be shocked by that revelation?
There will be some redundancies, that much is inevitable, espcially in overheads (depts like wages, accounts etc) and obviously where you have small villages with a branch of Lloyds and a branch of Halifax (eventually).
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18 September 2008, 03:50 PM
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If HBOS went bust the domino effect of the banking sector and the economy would be catastrophic. Gov can't let that happen so competition is irrelevant. its going to turn out to be a great deal for LLoyds tsb though
18 September 2008, 04:14 PM
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Interestingly (or not!) stock market is now at the level it was in 1998 after all this activity.
Funny how the merger has not had a real effect on the market.Boost it or something.
Funny how the merger has not had a real effect on the market.Boost it or something.
18 September 2008, 04:17 PM
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Expect it in an email soon...
18 September 2008, 06:50 PM
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6 weeks ago the chief boss dudes of each bank got together to formally discuss merging - trying to work out who might buy out who... They knew however that any merge of two such beasts would not be allowed.
Weird how then a few weeks later there is a major blip in HBOS share prices, the government panic not wanting another Northern **** allow the merger...
Now I dont know who benefits from what here, but it all smells fishier than a grimsby ****** knickers...
Weird how then a few weeks later there is a major blip in HBOS share prices, the government panic not wanting another Northern **** allow the merger...
Now I dont know who benefits from what here, but it all smells fishier than a grimsby ****** knickers...
18 September 2008, 07:27 PM
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NOTHING CAN POSSIBLY GO WRONG WITH GIGANTIC NEW BANK - The Daily Mash
Dave
18 September 2008, 08:01 PM
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6 weeks ago the chief boss dudes of each bank got together to formally discuss merging - trying to work out who might buy out who... They knew however that any merge of two such beasts would not be allowed.
Weird how then a few weeks later there is a major blip in HBOS share prices, the government panic not wanting another Northern **** allow the merger...
Now I dont know who benefits from what here, but it all smells fishier than a grimsby ****** knickers...
Weird how then a few weeks later there is a major blip in HBOS share prices, the government panic not wanting another Northern **** allow the merger...
Now I dont know who benefits from what here, but it all smells fishier than a grimsby ****** knickers...
19 September 2008, 08:24 AM
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No problem. The Daily Mash are onto it .....
NOTHING CAN POSSIBLY GO WRONG WITH GIGANTIC NEW BANK - The Daily Mash
Dave
NOTHING CAN POSSIBLY GO WRONG WITH GIGANTIC NEW BANK - The Daily Mash
Dave
class
19 September 2008, 02:01 PM
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***** 
I left Lloyds TSB because I did not like them, and am now with Halifax....only I am not with Halifax anymore
Too many banks merging if you ask me....
I left Lloyds TSB because I did not like them, and am now with Halifax....only I am not with Halifax anymore
Too many banks merging if you ask me....
22 September 2008, 08:22 AM
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They don't mention how dramatically the FTSE has fallen over a year (20% or so?)
They just report one days excitement after the US comes up with 'a cunning plan' to bail out banks and their problems.
They just can't lose these banks (or so it seems)
They just report one days excitement after the US comes up with 'a cunning plan' to bail out banks and their problems.
They just can't lose these banks (or so it seems)
22 September 2008, 11:24 AM
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Yep it's -17.6% year on year, that's still quite a hit.
Banking as an industry is pretty unique, that's the problem. Banks who invested in the mortgage securities HAVE been badly burned, make no mistake. Lehmans, UBS and Merrills have lost more than the annual GDP of a small country between them. That doesn't come without a cost.
Unfortunately, the rest of the sector then becomes vulnerable, just because of a lack of confidence. Since most of the money in the world is "electronic", banks are especially susceptible to speculation and sentiment. Last Tuesday, it really wasn't clear whether we'd have a banking system at all. And for a capitalist society, that's simply unthinkable. That's why the Fed had to step in. Yes it's a bailout, but at Paulson said, the cost of providing that bailout was substantially less (per person, including you) than if the whole banking system collapsed.
He has since admitted that the whole situation worried him last week, and how there was such fragility in the system, and i wouldn't be surprised if we see quite a lot more legislation to try to prevent a similar thing occuring in future, in the US at least, if not in the UK also.
You'll all be pleased to know that things are much, much calmer today. The only downside is that oil can now resume its relentless upward march...
Banking as an industry is pretty unique, that's the problem. Banks who invested in the mortgage securities HAVE been badly burned, make no mistake. Lehmans, UBS and Merrills have lost more than the annual GDP of a small country between them. That doesn't come without a cost.
Unfortunately, the rest of the sector then becomes vulnerable, just because of a lack of confidence. Since most of the money in the world is "electronic", banks are especially susceptible to speculation and sentiment. Last Tuesday, it really wasn't clear whether we'd have a banking system at all. And for a capitalist society, that's simply unthinkable. That's why the Fed had to step in. Yes it's a bailout, but at Paulson said, the cost of providing that bailout was substantially less (per person, including you) than if the whole banking system collapsed.
He has since admitted that the whole situation worried him last week, and how there was such fragility in the system, and i wouldn't be surprised if we see quite a lot more legislation to try to prevent a similar thing occuring in future, in the US at least, if not in the UK also.
You'll all be pleased to know that things are much, much calmer today. The only downside is that oil can now resume its relentless upward march...
Last edited by TelBoy; 22 September 2008 at 11:27 AM.
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