FOUR INTO ONE DOES GO

LloydsTSB was formed by a merger of Lloyds and TSB.

HBOS was formed by a merger of Halifax and The Bank of Scotland.

This morning it was confirmed that LloydsTSB will buy HBOS, i.e. what were four banks are to merge to form one megabank.

And with the complicity of The Labour Party, who are ignoring competition rules.

And with the complicity of The Bank of England, who are financing the merger.

And with the complicity of some traders who obviously drove the price of HBOS shares down and down and down despite the FSA stating HBOS was sound.

And with forecasts of approximately 40,000 redundancies.

This is very, very bad.

Competition rules are being waived to save The Labour Party so that the merger deal can go ahead. It is being reported that in the short run the banking crisis will be stopped, which is beneficial to The Labour Party, but in the long run, due to the lack of competition, all of us, senior Labour politicians included, will be paying higher mortgage rates and receiving lower interest rates on savings.

Once again we are being screwed by the Wizards of Oz. They can do anything they want, and we end up paying for their greed.

Does Gordon Brown have a heart or a brain?

Don’t be surprised to find that Brown and Darling get consultant roles to the new megabank after the ‘ordinary’ British taxpayer votes the heartless, brainless idiots out.