Lloyds shareholders "Furious" - why?

Optimist

I guess if you had and that scheme had shares in Lloyds or indeed any of the banks as is extremely likely you would be looking at how much your pension was now worth and be rather angry too

Entertainer

The question of honesty is a good one. Basically, the whole banking system is built on confidence, if everyone decided to withdraw their savings at the same time even a profitable bank would be in trouble. As an example, there was an article stating that the banks were all basically insolvent on the Independent newspaper's website a few weeks ago, that was mysteriously airbrushed out of existence over the weekend.

So they have been gilding the lily, shall we say, in order to maintain that confidence in the last year in particular. Would that meet the legal test of fraud in a court of law? Probably not, which is why Sir Fred and co know they are on solid ground personally.

There is no way that Barclays Bank can go through the process that I described above in a mere six months due to brand new losses that have developed over those same six months.

Some professional investors have known this for the last two years (see my signature) which is why we had the short selling of HBoS last autumn. The banks (never let it be said that they don't aim high) even managed to get no less than God on side- the Archbishop of York condemned the short selling. Of course we now find out that the short sellers were right all along.

We as small investor mugs don't have a hope in any of this.

SamIAm_3-2

Optimist wrote: »

I guess if you had and that scheme had shares in Lloyds or indeed any of the banks as is extremely likely you would be looking at how much your pension was now worth and be rather angry too

An interesting point. I'd be disappointed I can tell you that. Angry? I'm not sure - I'm finding it difficult to place myself in the situation you describe, mainly because I don't know much about how pension schemes work having not had one before. A further question is would I be angry at the banks themselves?


You are making me question myself (a good thing). I wish I could either agree or disagree with you but my lack of knowledge is precluding me from doing this. Sorry!

1echidna

A lot of this sounds like 'road rage' to me, totally unproductive and pointless.

OfficeSpace

I thnk it's safe to say my Dad is fairly !!!!ed off with it. He's worked for Lloyds since he was 18 (so getting on for 30 years) and has somewhere in the region of 11k shares i think. You can do some back of a fag packet maths to work out how much he's lost in dividend (the reason i think he kept hold of the shares!) and the on paper loss from the share price fall.

I think what has really felt like a kick in the balls (despite teh relative sie compared to the above) is the lack of a bonus (although some news article looked a bit more promising there) and no pay rise. That's despite Lloyds having a successful 2008 and not having taken on the dog that was HBOS at that point.

I guess if you have them now there's little point in selling them, even if recovery is 10 years away to any sort of meaningful level. Part of me thinks of LBG lives up to it's potential it will get broken up by the government anyway!

Kenny4315

If Mr Clown & Hs Darling offer to come round a clean up dog !!!!!! from your garden you know that you'll be paying for it for years to come.

Mr Clown ...' okay lloyds fellas no problemo with competition laws' equals hoho these guys might be able to get me out of the sh8te for a few weeks at least while I muddle along until the public forget a bit about it and then sting the general population with the bill.

mewbie_2

Kenny4315 wrote: »

If Mr Clown & Hs Darling offer to come round a clean up dog !!!!!! from your garden you know that you'll be paying for it for years to come.

We don't have a dog, but if I see them I could. er. improvise.

FoxtonsRIP

Kenny4315 wrote: »

If Mr Clown & Hs Darling offer to come round a clean up dog !!!!!! from your garden you know that you'll be paying for it for years to come.

Mr Clown ...' okay lloyds fellas no problemo with competition laws' equals hoho these guys might be able to get me out of the sh8te for a few weeks at least while I muddle along until the public forget a bit about it and then sting the general population with the bill.

I haven't got a clue what your post is about but I still instinctively agree with it. Well done

Kenny4315

FoxtonsRIP wrote: »

I haven't got a clue what your post is about but I still instinctively agree with it. Well done

The post is simply ..... Mr Clown & Hs Darling are useless, lying BAR STEWARDS, that'll have the country paying for their C0ck ups for years to come.

So if they come round to clean dog sh*te from your garden for free ... it isn't going to be free in the long term, and you may as well do it yourself.

CLAPTON

Daniels stated to the Parlimentary committee that he did about a third less 'due diligence ' on the HBOS acquisition as he normally would have.... now had that been in the public domain before the 'once in a life time' acquisition would those share holders have voted for the deal.
Well we can't know but many would think such info was highly relevant and was illegally withheld.