Summary
WHEN the rescue of Halifax Bank of Scotland was announced last week, the sale to Lloyds TSB was heralded by the government as a necessary and urgent fi nancial deal that would save it from taking yet another bank on to its books.
Having effectively nationalised Northern Rock earlier this year after months of failed deals and indecision, the last thing Alistair Darling, or indeed Mervyn King at the Bank of England, would have wanted was HBOS in the Treasury stable alongside and competing with another institution it held.See the full content of this document
Extract
All Options to Save Bank Must Be Explored Editorial
The deal with Lloyds wasn't described as the best deal for HBOS and its shareholders and employees, it was described as the only deal - and one that n...
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