Bradford & Bingley shareholders strike back!

experience08

Thrugelmir wrote: »

Appears not.

OK, thanks. My memory is a little blurred going back to 2008/2009 (thanks to the bank loses i made :eek:)

opinions4u

They did have a rights issue.

That's not being investigated.

A guy called Peter cummings lent them into the abyss. He walked away with a bigger pension than Fred.

http://business.timesonline.co.uk/tol/business/industry_sectors/banking_and_finance/article6740804.ece

hallmark

hbos cheap! take a look at Lloyds shareprice before, after and ever since they took over the toxic nightmare that is hbos. Besides which clamours for it to be broken up again if it even looked like making profit were/are inevitable.

hallmark

Interesting that my post was pulled.

To reiterate, the circumstances surrounding the Lloy takeover of Hbos should be thoroughly investigated. The only reason the deal went through is because the majority of shareholders (i.e. funds) held shares in both & didn't want to see their hbos investment become worthless. No small Lloy shareholders wanted that deal.

The other part of my post was pointing out that during the "Brown saves the world" episode the public were fed shareprice-affecting information through Robert Peston. That behaviour is a clear breach of the system - shareprice sensitive info is supposed to be divulged to the public via the RNS system but Brown & his cohorts were making the rules up as they went along during that time.

It cost a lot of Lloy shareholders a fortune but Brown etc couldn't have cared less about that.

sabretoothtigger

No small Lloy shareholders wanted that deal.

I owned both, seemed ok to me. Most owners would be via trackers or pensions and would own both.

Good business is founded on mutual benefit and Lloyds had AAA rating and excess capital with good management to clear up and benefit from the much larger customer base of halifax et all . Hbos was failing mostly from lack of capital and poor management, if we can see a good mix of the two it should be a positive.

The horizon always has to be at least 5 years, its not even 3 yet. The stock price doesnt tell us how well this venture is going, we need more evidence then that


I dont have a source but apparently Lloyds ambition to acquire new business like this was not new. The alternative is organic growth, in theory LLOY stockholders had plenty warning this deal or one like it would be done one day