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Lloyds TSB negotiations to takeover HBOS have collapsed, according to Sky sources.
In a move which fundamentally changes the nature of banking, Gordon Brown decided the Government had no choice but to take a majority shareholding in both banks after he discovered they were far more vulnerable than had previously been thought.
Originally posted by redled
Wow! I wonder if nationalised banks can be forced to restart inter-bank lending?
reply to post by Hastobemoretolife
Seems to me moving the bad debts from the private sector where they will go to be sold at a loss to being the responsibility of the government is going to bring the government down with it because the bad debts are not being solved.