Shareholders give resounding NO to Brown's S?U?P?E?R?Bank

Lloyds shareholders accepted 0.5 per cent of the offered shares in the new bank double the 0.24 per cent take-up by HBOS shareholders. It seems a miracle that Brown's New Labour can muster significantly higher figures in opinion polls - a fearsome indication of the extent of Brown's government paid client state of drones who must be ruthlessly culled before Britain can recover!

HBOS merged into doomed Lloyds

The Guardian reports the meeting where the castrated shareholders of HBOS went along with those of Lloyds in agreeing the merger of the two banks which the mazed mainstream media insist on predicting will be a "Superbank" but in fact will result in years of debts for Britain's bankrupt mainly non-voting electorate and the nation's future taxpaying generation. Shareholders contemplating their long term losses and future bleak outlet are unlikely be comforted by this report of further management excesses involving a trip to New York for 100 branch managers and their wives that is in the Scotsman this morning linked here.

JP Morgan doubts Barclays, Lloyds and RBS

Incredible how many people in the UK are still prepared to risk their money on the word of Gordon Brown. Lloyds and HBOS shares rallied today in London but JP Morgan, here, this afternoon has warned:

In a broker note, the investment bank highlighted the new combined Lloyds/HBOS entity as needing to undertake a €5.7 billion (£4.5 billion) writedown, while Barclays needs to writedown €3.7 billion.

Meanwhile, it added that all three UK banks faced the prospect of having a core tier one capital ratio below 6%.