Wednesday, 1 October 2008

Gordon Brown and HBOS

I womder if it was wise for Gordon Brown to invest so much personal capital in the Lloyds TSB rescue of HBOS? The markets are turning rapidly sour on the deal, and it still has to be approved by the Lloyds shareholders. Which way will they vote? I don't think the fact that it will be a terrible blow to the Clunking Fist if the deal fails will persuade them to vote in favor. Quite the reverse, in fact. Putting himself in the hands of the Lloyds shareholders may yet prove another terrible error by the PM.

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