In this fleeting market mood (+ or - a week perhaps) TSB will do ...OK. Like Pakka, I agree she will be towards the upper end of the spread range, mainly possibly only because of Carney's comments last week. [I think I mentioned £2.75 a few days ago, I'll refine it to £2.65 now]. I have already said that the IPO will be ovwer subscribed by the II's and retailers. BUT, this is a dull dull dull stock and if you want to do this with your TSB holdings: "...whats the worst that can happen...drop a little, rise a little, or stay static,..." as was mentioned by a contributor a couple of posts ago, then fill yer boots gunga din! The problem with this is that it is lost money - trapped in a dull stock, when that same money could be working for a living in much more exciting stock.... Live a little wait for a juicy stock to IPO and wade in then. Don't waste it on Zzzzzzzzzzzzzzzzzzzz TSB unless you wear a grey mac and a hat!
Does surprise me that some people are lacking a basic grasp of the history of LLoyds. Saying Lloyds does not want TSB and wanted to get rid of it, indicates they think TSB existed. TSB is a deunk Brand name that Lloyds has labeled the 600 Branches that it was forced to sell, it has absolutely no relationship what so ever with the original TSB Bank. As for any two bob lawyer being able to get round the EU directive to sell, that is a fairly wild statement to make. Lloyds is selling off TSB because it has to.
As for the HBOS takeover, Eric Daniels was an idiot and was conned and cheated into the take over, the only aother option was to nationalise HBOS. As Brown had already seen the panic when the far smaller Northern Rock had queues at its door demanding cash, he was extremely worried. As Lloyds was the only player who did not have a crisis position of its own, Lets remember Lloyds was ending 90% of value not 110 or 120% like some, then Brown targeted them to save the country from a banking crisis. He therefore LIED to Daniels who like an idiot failed with his due diliegnce and took over HBOS. That legacy is there for us all to see !
I saved the country not the taxpayer as a Lloyds Staff member and sharehholder I personally lost £70,000 saving Gordon Browns arse. In my view Brown and Daniels should be asked to explain exactly what went on in those days when the take over was pushed through.
Sun is out , temperature if just right and there is a light breeze here where I live. Let us start the day on a positive note. I see the TSB price on IG spread bet up 2 points. That sounds good for TSB and LLOY too. GLA
Your last post should be a message from self to self.
don't be rude, accept you are not the font of all knowledge, lots of posters don't agree with you, more posts does not give you automatic status or accuracy, you really should not feel the need to be the Lloyds TSB defender of the realm, Lloyds are a good company with limits and massive legacy mistakes, less can be more, banks exist to make money not friends, any other claims they make are linked to making money,money money money,
great rant about yourself,
say hi to your friends in financial world, and have a wonderful day and good luck with all your investmentsðŸ˜Š
All I have done in my three posts today is point out some incorrect information posted and offer my opinion on the IPO, which I believe I am entitled to do in the same way that everyone else is entitled to an opinion be it positive or negative, and to point out occasions when incorrect historical information is posted.
Guingette Generally agree with you.However the broader scenario at the time was potentially most dangerous for the UK Banking industry as a whole.If HBOs was allowed to collapse the consequences would have been unimaginable. Agree LLOY shareholders paid a heavy price to save UK banking industry from an absolute catastrophe .Hopefully we will see some small rewards before the end of 2014. GL
Where ever did you get that information ....could no be further from the truth ...Brown worked a flanker on the Lloyds chairman, but for this,they would have come through the banking crisis relatively unscathed,and we certainly would not have seen the massive drop in share value.Lloyds had a reputation as the most conservative of lenders whose customers were a "cut above the average"
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