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Monday, January 12, 2009

We Are All Bankers Now

In a delicious irony, despite the mistrust and dislike of the bankers who have brought the country to the edge of financial collapse, the British taxpayer finds himself/herself owning 43% of a new "superbank".

The "superbank" has been formed out of the wreckage of the merger between Lloyds TSB and HBOS, which was rejected by investors (who only bought less than 1% of the shares offered by both banks).

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