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Sunday, 1 November 2009

Alistair Darling to unveil plans to break up Lloyds and TSB

Darling is following up his pledge to break up the major state-funded banks.
"Alistair Darling is expected to confirm over the next few days that assets belonging to the two banks, which are majority-owned by the taxpayer, will be sold off to boost competition. Ministers say the move will fulfil Gordon Brown's promise to taxpayers that they would get "payback" for the multibillion-pound bailout of the sector last year."

Good work. The issue of 'too big to fail' is very serious, as shown by the state of the finances at the moment.

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