claphamboy
The wheels on the bus go round and round....
That's logical, although I assume they will keep the Bank of Scotland as a trading name, at least north of the border.
HBOS merges with Lloyds
- Thread starter Kid_Eternity
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That's logical, although I assume they will keep the Bank of Scotland as a trading name, at least north of the border.
danny la rouge
Ninja swords for all disabled people
Apparently not. It'll be Lloyds-Halifax. But "we" get to keep the name Bank of Scotland on bank notes. Which is a nice useful thing, and a comfort to the thousands who'll lose their jobs.
claphamboy
The wheels on the bus go round and round....
BBC is reporting they will continue to print & issue Bank of Scotland notes, which confirms they will keep that name.
danny la rouge
Ninja swords for all disabled people
Not according to BBC Radio Scotland, or the Scottish edition of the Times, or the Scotsman (both of which I have n front of me).
The name will remain on notes only. (The notes were BoS for the 7 years the company was called HBOS).
toblerone3
Grrrrr
Perhaps they should call it Horse-box
claphamboy
The wheels on the bus go round and round....
But what was the name on the branch offices, still BoS? Down south the Halifax branch network remained branded as Halifax, with the addition of the BoS branding for business banking - they never re-branded as HBOS.
I can't see Llloyd's dropping the BoS branding in Scotland - the brand is far too strong.
danny la rouge
Ninja swords for all disabled people
It was, yes, in the HBOS years. But that isn't what's being reported this morning.
The reports could be wrong, but they say Lloyds-Halifax will be the branding on all but the notes.
FabricLiveBaby!
Live Baby Fabric!
Yes but now as a consequence they have lots of dodgy loans, and with global banks going under who knows where they have put their money (probably dodgy american stocks etc.)..
You can't polish a turd.
danny la rouge
Ninja swords for all disabled people
Apparently not. I haven't seen the books personally, but we're told HBOS was well capitalised, and that the run was a result of short selling. (Traders selling securities they don't own. Effectively betting on the bank in the hope of making money).
girasol
Addicted to handstands!
I don't know much about it, but according to the paper this morning Halifax wasn't actually in any trouble at all. This is all down to speculation and the evil share dealers selling shares they don't have to make a profit.
e2a: LOL, danny got there first!
this is all very fucked up indeed. and full of wrongness
Augie March
blahem
claphamboy
The wheels on the bus go round and round....
Well only time will tell, but I can’t see it myself, the BoS name has far too much history behind it in Scotland and every BoS note is basically an advert for it, I wouldn’t mind betting a £100 they will keep the name for more than just the notes.
danny la rouge
Ninja swords for all disabled people
Because it was losing value in the magnitude of a third its value in an hour.
At that rate either the government nationalizes, or a buyer is found. The government seems to have brokered the deal, so it clearly didn't want to nationalize another bank.
Spion
I hear ya
A lack of confidence in the very real issue of whether it can survive its exposure in the property market, no?
girasol
Addicted to handstands!
/dramatic mode on
Because there are some really greedy people out there and shareholders are stupid people who only care about their 'investments'...
I hope they're happy that because of their greed/hysteria there are potentially 40,000 people out of a job.
Do share dealers ever get fired for ruining people's lives? They should
kabbes
First intersubjective, then internalised
So what, though? If you own an investment that you believe is fundamentally sound and some stupid bear market decides to temporarily undervalue it, do you sell it at its lowest ebb or do you just wait it out?
Apparently so, but I still don't really see why that has to happen.
danny la rouge
Ninja swords for all disabled people
Not really. The question was its share value, and whether a run would see it worthless.
kabbes
First intersubjective, then internalised
But we're now being told that it doesn't actually have any problems from exposure int he property market. The owners of the business who can actually see the management accounts must know this, so why sell it at fire-sale prices?
danny la rouge
Ninja swords for all disabled people
That's the illogicality of the market. 2 things are wrong here:
- people do sell on a falling market (logic tells you to hold on and sell on a rising market).
- traders are allowed to sell securities they don't own.
kabbes
First intersubjective, then internalised
So the real issue is whether its collapse in share price would make its actual customers jittery enough to withdraw all their money?
danny la rouge
Ninja swords for all disabled people
DotCommunist
So many particulars. So many questions.
Every time I wake up a new bank is doing the crises-lurch 
Kanda
Diving wanker
Every time I wake up a new bank is doing the crises-lurch
Stop bloody waking up then!!!
danny la rouge
Ninja swords for all disabled people
Losers here will be ordinary, working class bank staff who are losing their jobs
Winners are the tory hedge fund speculators who brought about this part of the imevitable crisis in capitalism
Worry up her is scotland seems to be more about whether we will lose our BOS bank notes, which shows the mentality of some people
Winners are the tory hedge fund speculators who brought about this part of the imevitable crisis in capitalism
Worry up her is scotland seems to be more about whether we will lose our BOS bank notes, which shows the mentality of some people
A Dashing Blade
Takes horses to water but can't make donkeys drink
As a trading strategy that logic is sooooo made of fail
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