Lloyds - tanking 40% lost since 3pm....
Discussion
Oh my here we go again.... HBOS/Lloyds announced a profits warning that HBOS write downs will be £10.8Bn some £1.8Bn worse than had been expected (lloyds to record a £1.6bn profit).
Its also coming to light now that it most certainly wasnt in lloyds interest to buy HBOS - who forced it through Slack Jaw BROOWN.
So now we had a highly traditional bank Lloyds which wasnt in any danger forced to take over HBOS and now its highly likely to go into the Public hands... Nationalised. Just what Broown wanted from the Start - bet he is kicking himself that Barclays gave him the finger & HSBC are a global company whihc cannot be constrained to the UK/UK backing - didnt the HSBC CEO give the EU the big F Off when they offered/demanded them to take "Help" ... sorry they have ample financing.
Suddenly there is not a level playing field the private vs public banks. When eventually the public banks get privatised again they will be maybe a decade or more behind the non nationalised Banks... and how can they get over that competative advantage???
Its also coming to light now that it most certainly wasnt in lloyds interest to buy HBOS - who forced it through Slack Jaw BROOWN.
So now we had a highly traditional bank Lloyds which wasnt in any danger forced to take over HBOS and now its highly likely to go into the Public hands... Nationalised. Just what Broown wanted from the Start - bet he is kicking himself that Barclays gave him the finger & HSBC are a global company whihc cannot be constrained to the UK/UK backing - didnt the HSBC CEO give the EU the big F Off when they offered/demanded them to take "Help" ... sorry they have ample financing.
Suddenly there is not a level playing field the private vs public banks. When eventually the public banks get privatised again they will be maybe a decade or more behind the non nationalised Banks... and how can they get over that competative advantage???
And Barclays!!!!
G Brown is a total cock. I bet T Blair is so relieved he got out when he did - he had enough of the Iraq dossier and that poor mans blood on his hands but now Brown has upped this to a totally different level.
It always makes me throw something at the TV when any labour MP/cabinet member says even now that we have had 10 great years of growth .... what the f
k thats all bull st they have been found out. In so many ways Im glad Brown didnt call an election May07 as it would have been far too late for Torys to do anything about it and Labour would have just said sorry not on our watch... now they cannot.
Boom & Bust, reckless borrowing & spending, spend high during the good times dont save anything then when the bad times come along --- oh well were fked...
G Brown is a total cock. I bet T Blair is so relieved he got out when he did - he had enough of the Iraq dossier and that poor mans blood on his hands but now Brown has upped this to a totally different level.
It always makes me throw something at the TV when any labour MP/cabinet member says even now that we have had 10 great years of growth .... what the f
k thats all bull st they have been found out. In so many ways Im glad Brown didnt call an election May07 as it would have been far too late for Torys to do anything about it and Labour would have just said sorry not on our watch... now they cannot. Boom & Bust, reckless borrowing & spending, spend high during the good times dont save anything then when the bad times come along --- oh well were f
ked...
So we will end up with Govt Bank (NR, B&B, RBS, LLoyds, HBOS) v Barclays, Santander & HSBC.
Its going to be a very interesting market place if that happens as the Govt cannot be anti competative from a business point of view and also not from a UK Tax payer point of view either.
Plus - in the future who is actually going to buy these shares? Do we have an amount/tally as what the UK Govt has spent on NR, B&B, RBS, LLOYDS?HBOS? Id like to see it and keep a track of it then when the time comes we will know how much we have lost as tax payers.
Its going to be a very interesting market place if that happens as the Govt cannot be anti competative from a business point of view and also not from a UK Tax payer point of view either.
Plus - in the future who is actually going to buy these shares? Do we have an amount/tally as what the UK Govt has spent on NR, B&B, RBS, LLOYDS?HBOS? Id like to see it and keep a track of it then when the time comes we will know how much we have lost as tax payers.
Fittster said:
Is lloyds one that the taxpayer has a stake in? There are so many these days it's hard to keep track.
Yes thats correct.Well what really happened was there were two banks Lloyds which was quite safe and HBOS which was in serious trouble. Now the Govt highly encouraged lloyds to buy it... and the Govt swept aside the competition commission as it wouldnt have been allowed to go.
So the end result was a 1 bank which then needed Govt backing.
What I think really was the issue to the Govt was they saw HBOS as a huge nightmare dwarfing NR so by combining Lloyds with HBOS the losses wouldnt be asad/Lloyds still profitable.
Its a nightmare now though. Every tax payer has lost a fortune already in RBS and today yet another fortune in Lloyds/HBOS.
"Lloyds announced that it expected HBOS to report a pre-tax loss for the whole of 2008 of £10bn, which is £1.6bn more than it predicted in November.
The Lloyds side of the business is expected to make a profit of £1.3bn"
The BBC's business editor Robert Peston says the profits warning is embarrassing for Mr Daniels.
"This afternoon's horrible fall in Lloyds' share price is investors having serious doubts about whether Lloyds was right to buy HBOS."
So was it right to buy a business that has just lost £10bn pounds
It's a good job those large bonuses pay for top talent who can answer those sort of questions.
The Lloyds side of the business is expected to make a profit of £1.3bn"
The BBC's business editor Robert Peston says the profits warning is embarrassing for Mr Daniels.
"This afternoon's horrible fall in Lloyds' share price is investors having serious doubts about whether Lloyds was right to buy HBOS."
So was it right to buy a business that has just lost £10bn pounds
It's a good job those large bonuses pay for top talent who can answer those sort of questions.Welshbeef said:
Fittster said:
Is lloyds one that the taxpayer has a stake in? There are so many these days it's hard to keep track.
Yes thats correct.Well what really happened was there were two banks Lloyds which was quite safe and HBOS which was in serious trouble. Now the Govt highly encouraged lloyds to buy it... and the Govt swept aside the competition commission as it wouldnt have been allowed to go.
So the end result was a 1 bank which then needed Govt backing.
What I think really was the issue to the Govt was they saw HBOS as a huge nightmare dwarfing NR so by combining Lloyds with HBOS the losses wouldnt be asad/Lloyds still profitable.
Its a nightmare now though. Every tax payer has lost a fortune already in RBS and today yet another fortune in Lloyds/HBOS.
Fittster said:
"Lloyds announced that it expected HBOS to report a pre-tax loss for the whole of 2008 of £10bn, which is £1.6bn more than it predicted in November.
The Lloyds side of the business is expected to make a profit of £1.3bn"
The BBC's business editor Robert Peston says the profits warning is embarrassing for Mr Daniels.
"This afternoon's horrible fall in Lloyds' share price is investors having serious doubts about whether Lloyds was right to buy HBOS."
So was it right to buy a business that has just lost £10bn pounds It's a good job those large bonuses pay for top talent who can answer those sort of questions.
Just listening to BBC news 24 and the CEo of lloyds confirmed that they spent at most a quarter of the usual time they would do on Due diligence.... fThe Lloyds side of the business is expected to make a profit of £1.3bn"
The BBC's business editor Robert Peston says the profits warning is embarrassing for Mr Daniels.
"This afternoon's horrible fall in Lloyds' share price is investors having serious doubts about whether Lloyds was right to buy HBOS."
So was it right to buy a business that has just lost £10bn pounds
It's a good job those large bonuses pay for top talent who can answer those sort of questions.k me surely this is the biggest investment ever for that bank yet they thought hell the Govt want it to go through "Must be alright then Jack".Where is the basic investment appraisal? Where is the risk assesment? Why was there not full due filigence carried out?
Surely this is now a criminal case (fraud)?
Guam said:
Anyone noticed how quite the New Labia warriors have been on here lately, I guess they cant blame this bks on Margeret Thatcher EH?
When are The MP's going to do THEIR job and move a vote of no confidence in this shower it really is time for them to go!!
At what point are the media going to start baying for blood?
Cheers
Tom
I have genuinely given up arguing with the BS. It's just futile.ks on Margeret Thatcher EH?When are The MP's going to do THEIR job and move a vote of no confidence in this shower it really is time for them to go!!
At what point are the media going to start baying for blood?
Cheers
Tom
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