Money Protection/Bank Licences

bigadaj

JuicyJesus wrote: »

It's the former. HBOS was in dire straits, the Government made clear it would look the other way regarding competition laws as it going under would pork the entire economy, and Lloyds were the first to want to take the bait. So there was a shotgun marriage, which ended up almost taking Lloyds with it.

It was a very necessary evil. Unpopular opinion I know, but Labour's handling of the whole crash was exemplary - things could have been much, much worse for everyone if they hadn't taken the actions they did. I don't think most people appreciate just how much of a bullet we'd dodged.

Though very substantially contributed to by the government that had been in power for ten years up to that point.

It was probably a necessary evil, but one in large part created by the no more boom and bust hype that many had been convinced by in government, the media and elsewhere.