And weren't Lloyds one the UK's few financially sound banks until Mr. Darling effectively forced them to take on the shite of HBOS, thereby nearly destroying both of them?
I believe that the deal hit the rocks on *the* weekend of the financial crisis, and Al and pals promptly told senior people from each of Lloyds and HBOS to go out of the room into a corridor and agree the deal.
have to confess that I only scanned through the articles but I failed to pick up any inaccuracies and sensationalism ........ maybe other halfwits who read tabloids might have better luck.
Sorry, ernie, I ought to have completed my little note with an ironic smiley.
I'm quite sure the interdependence was the issue. Had retail and investment (when did we drop "merchant"? Oh yes, when Fatch de-regulated, and the US wideboys moved in) banking been kept separate, we wouldn't have been in such a mess.
However, I still don't see how screeching about JPM profits and bonuses and the failings of LBG (as a result of exactly that forced merger) gets us anywhere, as those profile of those institutions isn't the same.
The reason JPM et al are doing well, is that investment banking is still good industry to be in - look at the equity and bond markets for an example.
LBG, OTOH, is f***ed. Too big, too cumbersome, and too saddled with historic "liabilities".