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February 14, 2009

lloyds-tsb – the other shoe

Filed under: business,just whinging,politics — anne thrope (miss) @ 11:54 am

lloyds-tsb – the other shoe – dropping soon with a hell of a bang. are we past noticing/caring?

time-and-again, supposedly mature, intelligent, oh let’s go for gold, prudent bank managements have shown a schoolboy preference for quantity over quality. is this good, sensible business, or is it pathetically predictable corporate me-tooism? you choose!

was the lloyds-tsb management pushed kicking and screaming (very quietly) into it’s unseemly speedy takeover of hbos, or did an overweaning superiority prevail over common sense as has been the case with so many bank takeovers in the past.

either way it entailed a sickening injection of taxpayers funds to push the deal through. those same taxpayers, not to mention lloyds-tsb shareholders have now found that aside of acquiring the most ludicrous, scrabbletastic collection of acronyms in corporate history, lloyds banking group has swallowed a poison pill of epic toxicity.

don’t rule out it’s complete, not to say ignominious nationalisation in short order.

how the mighty are fallen!

still, mustn’t grumble.

ta-ta, (new, unwilling) shareholders.

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