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THE CHATTER BOX

 
  
  
  The Chatter Box : Blathering On
  
  
  
 
Lloyds Bank Has Bought itself A White Elephant by bIG bLOGGER on 14 February 2009 3:39pm
 
The City Of London (the UK's Wall Street) was stunned yesterday when Lloyds Bank shares/stocks fell 32% on the day's trading after news that it would publish losses(overall) of £11 BILLION due to toxic debt in HBOS (Halifax Bank Of Scotland)--the ailing subsidiary it purchased last year. Lloyds Bank/TSB/HBOS is already 43%-owned by the British Government(British taxpayer) after an injection of £17 BILLION pounds,and Chancellor Alistair Darling has not ruled out full nationalisation.

Lloys Bank/TSB itself published a profit of £1.3 BILLION pounds,but because of the "white elephant in the room" (i.e.HBOS) the value of Lloyds Bank fell by one-third in several hours,as traders took fright.
 
Re: Lloyds Bank Has Bought itself A White Elephant by kazzzz on 14 February 2009 11:51pm
 
What were they thinking, everyone knows you don't invest in Scotland, well not until Johnny moves to Iceland or something.
 
Re: Lloyds Bank Has Bought itself A White Elephant by mrsthing on 15 February 2009 12:54pm
 
They should have invested in whatever it is Johnny drinks. ;-)
 
Re: Lloyds Bank Has Bought itself A White Elephant by bIG bLOGGER on 15 February 2009 2:04pm
 
..like Glenfiddich single malt,one of the world's most famous whiskies??
...oops,no,that's Scottish as well!!

#########################~~~~~##########

Bank bail-outs are becoming all too prevalent in England. Here are some recent examples of our government pumping money into our banks,in the billions:

NORTHERN ROCK:Sept,2007 £25bn
BRADFORD AND BINGLEY:Sept,2008 £42bn
LLOYDS AND HBOS:October,2008 £17bn
RBS:October,2008 £20bn
RBS:February,2009 £25.5bn
LLOYDS BANKING GROUP:Mar,2009 £10bn
Total .....................£139.5bn
 



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