Lloyds "HBOS Deal Off", page 1

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Topic started on 12-10-2008 @ 03:35 PM by TreX-UK

Lloyds "HBOS Deal Off"

news.sky.com

Lloyds TSB negotiations to takeover HBOS have collapsed, according to Sky sources.

(visit the link for the full news article)

reply posted on 12-10-2008 @ 03:35 PM by TreX-UK

Ff this is indeed the case i think this could signal THE black mondy to end all black mondys for the UK

Asian Markets to open in a few hours if they tank guess we will was well here and accros the pond

Also it looks like Isreal is delaying opening there stock market today

www.iht.com...

Happy black Monday!

news.sky.com
(visit the link for the full news article)

[edit on 12-10-2008 by TreX-UK]

reply posted on 12-10-2008 @ 03:55 PM by boaby_phet

dam this could be bad, my bank is with hbos, im just glad i dont have any money in it!

black monday indeed!! ive been thinking this myself, although its more of a black october, not just any one day

reply posted on 12-10-2008 @ 03:56 PM by anachryon

HBOS and RBS 'to be nationalised' in £50 billion state intervention

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.

It's even worse than the deal falling through. The UK gov't is taking majority stake in RSB & HBOS.

reply posted on 12-10-2008 @ 03:59 PM by redled

Wow! I wonder if nationalised banks can be forced to restart inter-bank lending?

reply posted on 12-10-2008 @ 04:00 PM by freemindmine

Now Four of Britain's biggest banks will ask for up to £50bn and one off them is guess who? - Lloyds TSB. How can this be, As they where looking to take over HBOS up to only a few hours ago.
So what now they all of a sudden are in bother too. This all comes after the G7,G20 and the euro meetings. Seems to me strange to say the least.
Anyway heres the link.

news.bbc.co.uk...

reply posted on 12-10-2008 @ 04:03 PM by anachryon

Originally posted by redled
Wow! I wonder if nationalised banks can be forced to restart inter-bank lending?

They can go one better. The governments can guarnatee interbank lending. Combine that with the "nationalisation" of HBOS and RBC and....all your bank are belong to UK.

reply posted on 12-10-2008 @ 04:12 PM by infinite

reply to post by redled

Interbank lending has already restarted on a small level in the UK.

reply posted on 12-10-2008 @ 04:38 PM by Hastobemoretolife

I don't understand how nationalization of the banks will solve the problems. Part of the problem is the banks but more importantly the debt that the banks hold. 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.

Personally I think we are witnessing the failure of Fractional Reserve Banking and Fiat money. Fiat money has never worked and I don't see it working now. I think they are running around in circles trying to fix something that can't be fixed.

reply posted on 12-10-2008 @ 05:14 PM by HimWhoHathAnEar

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.

reply to post by Hastobemoretolife

Precisely. The so called interbank lending is actually intergovernment lending at this point. Governments are foolish to endanger themselves over this Debt. Which doesn't really exist anyway.