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Jon Snow
Yes, it’s official, we are in charge of Lloyds Banking Group, aka Lloyds TSB HBOS. In fact we didn’t know it. But we’ve had it since 13 October last year. According to a release that lands on our desks this morning, the Office of National Statistics has deemed that both RBS (which we already knew…
Jon Snow
The sight of Dennis Stevenson – Lord Stevenson of Coddenham – in front of MPs yesterday recalled the heady days of new Labour, when he was a central go-between, even the gateway, for Labour’s then new love affair with business. Stevenson symbolises the consultant, a breed of service provider born of the late 1960s and…
Jon Snow
Given that this was the first occasion that any of the bosses of the failed banks had appeared in any forum to give an account of their role in the turmoil that has beset Britain’s banking system, today’s scene in the House of Commons was low key, to say the least. The man the financial…
Jon Snow
There’s nothing like a quick visit to America to remind you of the interesting contrasts between our two nations – divided as they are by a common tongue. In the United States President Obama tells bankers to show responsibility and forego bonuses because “there are people who are a lot less well off, who are…
Within a week in October 2008 the US and UK governments were forced to bailout their banks in order to save the economic system as the credit crunch began to bite.
The collapse of Lehman Brothers in 2008 triggered financial turmoil around the world. Economics Editor Faisal Islam reveals the inside story of how close Britain came to a costly bailout.