There is something perverse about a recession-hit company being bullied by a bank whose own finances are in a far worse state. When it comes to renegotiating loans, borrowers should exploit the banks’ weaknesses.
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There are arguments for banks paying bonuses – but there are better ones for them not paying. In defending bonus payments the banks show that they just haven’t realized how dire their situation is.
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Critics of Lloyds’s takeover of HBoS seem to think that without the merger HBoS would have no problems. Wrong. It would have all the problems and be either bust or nationalised.
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The latest recapitalisation of Britain’s banks offers the chance to right one of the wrongs of the past rescues. There is the opportunity to offer beleaguered savers a decent return on their cash.
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There were eight retail banks in the FTSE 100 in 2007; now five of them are controlled by one group.
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The Scottish Nationalists trying to stop HBoS being bought by the English seem to have missed one important point. Lloyds TSB is Scottish.
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