Posted on 03/08/2009 12:19:21 PM PDT by Ernest_at_the_Beach
NEW YORK (MarketWatch) - Lloyds Banking Group PLC and the U.K. government have reached an agreement in which the government's stake in the financial giant could increase to as much as 77% in exchange for its insuring up to 260 billion pounds ($365 billion) of the bank's risky assets, according to reports Saturday.
The deal would involve Lloyds giving the government 15.6 billion pounds in non-voting B shares in return for the British Treasury's insurance against further losses on its assets, Reuters reported.
(Excerpt) Read more at marketwatch.com ...
Another related thread:
Posted this earlier last night:
BIS Quarterly Review, December 2008 ( Global Financial Information )
The Free Traitors made gazillions by redistributing the productive wealth of Other People's Money to third-world communist cesspools -- gambles that were designed to fail in the third world, and impoverish the industrialized world.
Knowing their gambles would eventually fail, the Free Traitors insured their gambles through various large insurance companies that were Too Big to Fail, in addition to devising outside-the-market gambles for and against the prospect of failures, pretending that all the gambling slips were legitimate commercial paper.
Now that the Free Traitor insurance scam has hit the fan, they want the taxpayers of the US and UK (their original victims) to pay for the losses (imagined or real) that they, the Free Traitors, created.
Hang'em all.
Will this “pound the Pound” at the Forex open in a couple hours?
Any bets on the U.K. being the next Iceland?
I think there were some comments along that line on the thread linked at post #2.
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