lloyds tsb – the other shoe has landed – get your wallet out
well don’t say i didn’t mark your card.
on the February 14, 2009 i mentioned that the lloyds-tsb takeover of the disgraced yet extraordinarily still in denial hbos
“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.”
i further recommended that you “don’t rule out it’s complete, not to say ignominious nationalisation in short order.”
well, as predicted, the other shoe, i mean the bill has landed. stand by your beds for a further taxpayer-backed asset (liability, surely) insurance arrangement to the tune of some £250 billion (count ’em). in return the hapless citizen (scuse i, shareholder) will receive an increased stake in the banking basket case.
my advice: stop trying to mask the scale of the horror by piecemeal bailout of this lame dog, at ever increasing cost to the taxpayer. nationalise it now!