Lloyds Banking Group, produced by the merger of Lloyds TSB and the Halifax banking group HBOS, is the biggest ever UK bank. The combined group, with around 145,000 staff and 3,000 branches, will control around a third of UK's mortgages and a quarter of all savings. The government owns 43.4% of Lloyds Banking Group, 36% are owned by Lloyds TSB shareholders and 20% by HBOS shareholders.
A stop gap/buffer had to be created until growth kicked in - except it didn't. How to filter and trickle this money courtesy of the BOE was a tricky one. Nothing lasts forever.
right not ight goodness not godness. damn led lighting?
everyone knew the £4 billion,or how ever much it was,was a back door stimulus with government encouragement,dont think it was wightlady that sussed that out,but your ight,shelle go down in history has one of Lloyds shareholders greatest VISIONARIES.lol.bless her. the racist stuff was below the belt though,not nice.godness knows how she got away with that(where ever she is?)
...also couldn't make this up. The wightlady told you all that years ago about how the Government were actively encouraging the PPI claims to boost the economy, with cash for the squander's of society, without, for once, they, the Government themselves, directly having to dip into their coffers. She was ridiculed for suggesting this. Now, years on, the slow are at last seeing she was, in fact, correct. She also said that as all Governments are in a heck of a 'hurry' to build up large cash buffers for all banks, to protect against another fiscal crash, then to be very concerned over it. As, IF there were no known, 'likely to happen soon', disasters 'expected', then, the worlds Governments would let banks build up these cash 'buffers' over a much longer time span, so as they could do what is both good for banks, AND Government, as in lending out this cash to help 'grow' the economy. She also said, time and time again, that the dividend would not be forthcoming until very near too, but not so near to make it too obvious the Gen Election. Strange how some people have vision, where others take a longer while before accepting the hard and unpalatable truth. Few want to believe what they don't want to be so, but the wightlady was certainly a visionairy, disliked as she never followed the herd, and told them what they didn't want to hear. So, wight, if you are still around, I expect the apologies will come flooding in...........yet don't hold your breath!
RE: You couldn't make it up!!!!
Indeed you couldn't. it's as if this PPI pay-back scheme is actually a DESIRABLE Treasury strategy to play a kind of Quantitive Easing role in the retail economy. MY21 has just highlighted (highlit?!) the news that the FCA wants even MORE payouts and even LESS scrutiny of an area in which millions of us know fraud to be rife. I have been paid TWO different refunds on one policy (the second one being, I suppose, some kind of "top-up") and I have an acquaintance who has been paid the same amount TWICE, ie. they didn't know that they'd already paid her! And as for "claims that were unfairly rejected"...well...does ANYONE know of someone whose claim was rejected?! I certainly don't. I'm very sceptical about this deadline being imposed too. Once the Ambulance Chasing Brigade (sorry, that was TOTALLY uncalled for; I meant, of course, The Legal Profession) get around a feeding trough they aren't exactly renowned for stepping back, now are they? I wouldn't mind risking a tenner that in NEXT half year's results we still hear the same old same old about profits being restricted by ongoing provision for PPI, CCP and so on.
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