The Bankwatch

Tracking the consumer evolution of financial services

Lloyds next, and then Barclays

I feel for those I know at Lloyds firstly because I know them, and secondly because I used to work for Bank of Scotland (now HBOS, now Lloyds).

What is poignant is that Lloyds was the risk averse bank.  This merely validates the point that the banking model is broken when a strong bank can find itself in this sad situation.

Also note the reference to Darlings comment that Barclays are next.  Strange days indeed yet I still feel the root cause has not been ferretted out.  I see nothing in Central bank comentary about the derivatives market and the off balance sheet liabilities there.

Lloyds next for Treasury scheme | ft.com

Lloyds Banking Group, which has absorbed HBOS, is on Friday expected to reveal when it reports full-year results that the UK government is insuring up to £250bn of the bank’s assets.

… … …

Alistair Darling, the chancellor, hinted to MP that he expected Barclays to join the scheme.

Written by Colin Henderson

February 27, 2009 at 01:46

Posted in Uncategorized

Tagged with ,

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