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Good points Paul and Obi. Also just why on earth are Brown and Darling giving Lloyds more money in this new rights issue? Its diluiting the public stake for no return!
The government is the biggest shareholder in Lloyds, should they not demand that the government stake stay at 43% without any additional money, just why is the government giving them another £5.5billion for nothing? The government should NOT have to spend more money in this rights issue to defend its stake!!!
In fact the government stake should be more like 70% for the money already pumped in. In fact HBOS should have been nationalised, but that is another matter entirely, secret loans are an absolute disgrace!
It seems whatever Gordon Brown touches turns not to gold but to a darker shade of turd.
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