Why Did Lloyds TSB Buy HBOS?

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The rather unusual news from the UK is that the British government has grabbed control of Lloyds TSB PLC as a part of guaranteeing loans worth £260 billion.
According to a statement from Lloyds TSB, “About 83% of the insured assets were acquired when the bank bought HBOS.” The details, as reported by Bloomberg, can be [...]

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A Bad Day For UK Shareholders

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Today was a fairly bad day to be a shareholder in the United Kingdom. The idea of property rights - something that is vital in a modern democracy - seems to have been damaged somewhat.
Property rights are a central tenet of a modern economy. Without legal rights of ownership with a solid enforcement system, the [...]

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