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Peer suggests Treasury 'bias' on HBOS merger

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Published Date: 26 November 2008
THE Treasury has shown an "unusual bias" in favour of the planned takeover of HBOS by Lloyds TSB, a former head of the Office of Fair Trading said yesterday.
Lord Borrie, director-general from 1976 to 1992, asked in the Lords : "Has not the government shown an unusual bias in favour of the merger? Firstly by passing regulations to ensure that financial stability can be an issue which would override the Office of Fair Trading's concern about competition and secondly by saying that the bail-out of the banks should be conditional on this merger going ahead?"

Lord Myners replied that "preserving financial stability, and ensuring our banks are in a position to support the needs of their customers is essential".



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1

subrosa,

26/11/2008 00:39:35
'Lord Myners replied that "preserving financial stability, and ensuring our banks are in a position to support the needs of their customers is essential".'

So that's all right then. Speak about spin ...

2

Hmm ...,

26/11/2008 01:08:30
... not so much spin as asset stripping. First they took our industry south, now it is our financial services.

Thank goodness we still have privately owned bed and breakfasts. Oh no - they tend to be owned by English people opting out of the rat race.

Ah well, we can perhaps make as much a success of the tourist industry now that we will all be working in it as we did with financial services (at least before Halifax moved in)!
3

Guga II,

Rockall 26/11/2008 03:34:07
It is, of course, the fault of the Quisling Maggie Broon, who is hell bent on selling out Scotland and the Scottish people.
4

drunken proffet,

Tassy 26/11/2008 05:50:49
#2Hmm, I forgot about asset stripping in Scotland. Now that was definitely an English technique. They used to buy over Scottish manufacturing businesses who they reckoned had an inordinately large share of the market and close them down. Well to take their market share of course. It maybe that it would be more beneficial if the Chinese invested in the Scottish Banks, it may be that they hold them in higher regard than the English establishment.
5

subrosa,

26/11/2008 09:25:33
# 2 'Thank goodness we still have privately owned bed and breakfasts. Oh no - they tend to be owned by English people opting out of the rat race.'

You're not far wrong there. I own a bed and breakfast and in this small town nearly 50% of them are run by incomers from the south east of England. They're on every committee connected with tourism and the locals have just given up. We keep ourselves to ourselves now.

It's far worse on the west coast.
6

An Greumach Mor,

Scotland 26/11/2008 09:31:05
Gordon Brown will be remembered at the worst type of traitor. The type that willingly screwed over his nation when he was not forced to. It was voluntary.

The labour party will be dead ducks when the majority of people finally realise the impact on jobs and services and the impact in Scotland.

The out cry may well be increasing in the North of England when jobs start to disappear.

Halifax are a market leading bank as were Bank of Scotland. Lloyds on the otherhand are shocking to deal with a both business and domestic level.
7

the.ally ,

max. 26/11/2008 18:14:55
subrosa, I'm surprised there is any surprise at all about this dastardly piece of devilish chicanary by laughing-boy Brown-the-Clown. Lord what's-his-name and all the other lords what's-their-names couldn't really give two hoots about Scotland.

 

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