Re: I aint got much BUT?
Originally Posted by
Boots
->
Gordon Brown and his mate Victor Blank have a lot to answer for with the cheating and illegal deals with HBOS went on.
The story that was going around was that Blair and Brown were at a cocktail party and manouvered Blank and the then CEO of lloyds into a corner, the conversation went something like:-
Brown "We need you to take over HBOS '
cos we have no money"
Blair "But make it look like a
normal takeover"
Blank "But what about the Competition Authority?"
Blair & Brown (In unison) "Oh don't worry about that we'll fix it that the CA
allows the deal to go through"
Blank "Oh OK if you can assure us there will be no regulatory snags we will make an offer for HBOS of £1 a share" which happened to be
about 99.9 pence more than HBOS was worth at the time
Of course Blank meant
ALL competition authorities UK
and European, Blair & Brown knew about the European Authorities but
choose to think it meant only the UK.
The end result was Lloyds (Who were nowhere near bankrupt) took over HBOS who were, and not long after the European Competition authorities said that they had to reduce the number of branches they had by hundreds, thus
completely negating the point of Lloyds taking them over and in addition Lloyds got saddled with the huge debts of HBOS and the government had to bail them out anyway.
Now, if Blair & Brown had been running the country like any responsible government leader they would have been able to bail out HBOS and RBS and
left Lloyds to get on with their business.
As we now know Blair & Brown had been
borrowing far more than they should have, had sold off any assets the UK had such as our
Gold reserves, and were backed into a corner when the s**t hit the fan. Even the most uneducated fool should know that
you can't just keep on borrowing, but if you
have to do that to win votes then that is what you do.
The sad thing is that millions of people didn't know all this, or they have choosen to forget it, prefering instead to vote for the same lot again.
It's just greed on the part of so many.