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.

No comments: