Posted AT 7:21 AM EST on 17/11/08
Let these banks marry in haste and Britain will repent at leisure
ROME — Try this for a reckless bank fix-it plan.Hand wheelbarrows of taxpayers' money to two huge banks, then allow them to merge so they can use their outsized market power to clobber what little competition remains.
It sounds crazy but this is exactly what is happening with two of the biggest banks in Britain, Halifax Bank of Scotland (better known as HBOS) and Lloyds TSB.
Here's the story in short.
The full text of this article has 796 words.
To continue reading this article, you will need to purchase this article.
Already have a member account? Login now
Pay-Per-View Offers To read the complete article, select one of the following options
Purchasing from globeandmail.com is quick and secure.
| Market | Change | Value |
|---|---|---|
| Data delayed 15 minutes | ||
| S&P/TSX | +100.26 | 9,221.58 |
| DJIA | -27.24 | 8,742.46 |
| S&P 500 | +3.08 | 909.73 |
| Nasdaq | +17.95 | 1,617.01 |
| Stock Profile | Sponsored by: |
|---|---|
 |
|
MOST POPULAR 
Most Popular
| Rank | Headline |
|---|---|
| 1. | Canada's oil sells for less 9:15 PM
|
| 2. | And the most stressful jobs are... 6:15 PM
|
| 3. | Not your average wireless outfit 8:48 PM
|
| 4. | Teck slashes work force in debt battle 9:00 PM
|
| 5. | Where's our bailout? porn industry asks 11:46 AM
|
| 6. | Oil sands admits PR failure 4:11 PM
|
| 7. | ‘Our digital lives will only get richer' 8:52 PM
|
| 8. | Loonie climbs more than 1 cent 4:52 PM
|
| 9. | Banks 'well placed to lend' 5:31 PM
|
| 10. | Madoff was ready to send out $173-million, court told 1:44 PM
|
Adhocracy
- And now, naked sheep
- Plus: Naked-naked, but in a natural way
Consumer Electronics
- Future dims for desktop
as laptop sales surge - Consumers won over by competitive price, performance and portability; manufacturers race to expand choices
7
The Law Page
- Back in the M&A world
- After stints in public service, Michael Fortier rejoins Ogilvy
Globe Investor Magazine
- Ten things to know about TFSAs
- The nuts and bolts of these new tax-sheltered accounts -- and who benefits most from them
-
Related:
Tax-Free Savings Account ideal as emergency backup fund
Restaurant Diary
- Dine and dash
- "Party math" makes large groups risky for servers
Magazine Exclusive
- Peter Puck's last stand
- In 2002, the former Oilers owner moved to California, leaving bailouts and ill will in his wake. For unwitting new partners in the U.S., a golden entrepreneur seemed to have swept into town 7:04 AM
ROB CARRICKTop court says no to mortgage-interest deduction
RHÉAL SÉGUIN, BERTRAND MAROTTE AND KONRAD YAKABUSKIIrked by troubles, Charest targets Caisse
DEREK DECLOETWatsa circles his crown jewel
JOHN HEINZLBearer of bad news has been right before; should you doubt him now?