Why Did Lloyds TSB Buy HBOS?
Posted by admin on Mar 7, 2009 in banking nationalisation, borrowing, credit crunch, economy, gordon brown, hbos, lloyds tsb, london stock exchange, recession, shareholder rights, stock market
3 Comments
The rather unusual news from the UK is that the British government has grabbed control of Lloyds TSB PLC as a part of guaranteeing loans worth £260 billion.
According to a statement from Lloyds TSB, “About 83% of the insured assets were acquired when the bank bought HBOS.” The details, as reported by Bloomberg, can be [...]
A Bad Day For UK Shareholders
Posted by admin on Feb 13, 2009 in credit crunch, london stock exchange, northern rock, property rights, shareholder rights
Today was a fairly bad day to be a shareholder in the United Kingdom. The idea of property rights - something that is vital in a modern democracy - seems to have been damaged somewhat.
Property rights are a central tenet of a modern economy. Without legal rights of ownership with a solid enforcement system, the [...]