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[Jay w]

Not a fan of Lloyds - do I move my current account and 3 childrens accounts?

i would leave it where it is, it is most likely safer now LloydsTSB are running the show........

For years HBOS and other major institutions partook in massively irresponsible borrowing and lending policies which resulted in the housing bubble and credit crunch. Meanwhile 'backwardly traditional' LloydsTSB looked staid by plodding along in their wake with more responsible borrowing and lending policies.

Now all the irresponsibility has come home to roost, and who benefits... LloydsTSB. They get HBOS at a knockdown price, become the countries biggest bank without a whimper from the monopolies commission and with the backing of the Government and sanity is restored.

This has been taken from another website, however i do tend to agree with the writers  thoughts.

Lloyds may be boring and offer lower than average rates, but they are reliable

[Banjax]

Not a fan of Lloyds - do I move my current account and 3 childrens accounts?

i would leave it where it is, it is most likely safer now LloydsTSB are running the show........

For years HBOS and other major institutions partook in massively irresponsible borrowing and lending policies which resulted in the housing bubble and credit crunch. Meanwhile 'backwardly traditional' LloydsTSB looked staid by plodding along in their wake with more responsible borrowing and lending policies.

Now all the irresponsibility has come home to roost, and who benefits... LloydsTSB. They get HBOS at a knockdown price, become the countries biggest bank without a whimper from the monopolies commission and with the backing of the Government and sanity is restored.

This has been taken from another website, however i do tend to agree with the writers  thoughts.

Lloyds may be boring and offer lower than average rates, but they are reliable

in banking - boring is definitely a good thing - i don't want some hot-shot riverboat gambler playing poker with my savings

now we just have to sort out the spivs and hucksters in the city - trouble is these hedge fund guys can just pick a target and ruin a 100yr old business in hours by ditching stock quickly then mopping up when the share price hits rock bottom (because everyone else panics and ditches their shares too!) i think they've made this "short-selling" illegal in the states - we need to follow suit  

[Martin_1962]

Not a fan of Lloyds - do I move my current account and 3 childrens accounts?

In these times it's not a question of being a "fan", it's a question of knowing where to safely deposit your assets. My personal advice is to keep your accounts where they are, for I can't think of a safer alternative than Lloyds at the moment. Mind you, I've banked with them for more years than I care to admit and can't say I've had any real problems.

Some idiot temporary mananger managed to shut down the company my dad was working for, the normal manager knew the situation and the idiot decided to make 20 people unemployed. Also the reason I hate BMW GB

BTW after closure the owner had enough to retire on as they owned their site outright, but were forced to sell rather than trade out of it.

[TheBoy]

Just watching the news.  The Halifax has been sold for £12B to llyods tsb.  Does that mean the whole group of companies or just the Halifax.

Lloyds TSB has bought HBOS, so thats Halifax, Royal Bank of Scotland, and any others which are part of HBOS.

Sorry, thats Halifax and Bank of Scotland.  Not the ROYAL Bank of Scotland, two seperate entities....  

My mistake    

Thought they were the same!

BOS - Halifax etc
RBOS - Natwest etc

[Jimbob]

ITV got it wrong in one of their broadcasts, why should anyone else manage  

[Jay w]

Not a fan of Lloyds - do I move my current account and 3 childrens accounts?

i would leave it where it is, it is most likely safer now LloydsTSB are running the show........

For years HBOS and other major institutions partook in massively irresponsible borrowing and lending policies which resulted in the housing bubble and credit crunch. Meanwhile 'backwardly traditional' LloydsTSB looked staid by plodding along in their wake with more responsible borrowing and lending policies.

Now all the irresponsibility has come home to roost, and who benefits... LloydsTSB. They get HBOS at a knockdown price, become the countries biggest bank without a whimper from the monopolies commission and with the backing of the Government and sanity is restored.

This has been taken from another website, however i do tend to agree with the writers  thoughts.

Lloyds may be boring and offer lower than average rates, but they are reliable

in banking - boring is definitely a good thing - i don't want some hot-shot riverboat gambler playing poker with my savings

now we just have to sort out the spivs and hucksters in the city - trouble is these hedge fund guys can just pick a target and ruin a 100yr old business in hours by ditching stock quickly then mopping up when the share price hits rock bottom (because everyone else panics and ditches their shares too!) i think they've made this "short-selling" illegal in the states - we need to follow suit  

I believe the government are passing legislation currently on this

[Bandit127]

Just a footnote on the £35k govt backed security thing.

For those that have more than £35k deposited with Lloyds and £35k with the Halifax, you just got your security cut in half. It works per company, not per account. (This was on BBC News the other morning).

It's probably not impossible that people have that in savings with Lloys and an endowment with the Halifax. ..lucky you  

P.S. I for one will not be missing those awful Halifax averts  

[albitz]

I think the legislation is going to suspend short selling until the markets return to normality,it will then be allowed again (as it is a good way to generate wealth),i suspect there may be some sort of framework of rules involved to try to protect otherwise healthy businesses.

[Bandit127]

[rant]
Sorry if I didn't make it clear but this is what I meant...

The regulatory need was for better risk management systems to stop institutions basing a core part of their business on high risk/high gain strategies.

The implication here (which I agree with) is that all of the recent headlines were caused by institutions that knew better, but carried on regardless because of greed.

It's not just short selling. It's not just risky mortgage lending. It's the way the system balanced risk against profit - their risk assessments were all based on the 'upside'. The anology is spending during the summer, then realising that you have no savings lefy to pay for the leaky roof when the rain arrives. (Poor analogy for us Brits this summer, I know..)

The whole system is rotten and the US/UK goverments have done nothing to fix that system. They've just poured money in and bent some rules to keep it going.
[/rant]

[shyboy]

Just a footnote on the £35k govt backed security thing.

For those that have more than £35k deposited with Lloyds and £35k with the Halifax, you just got your security cut in half. It works per company, not per account. (This was on BBC News the other morning).
It's probably not impossible that people have that in savings with Lloys and an endowment with the Halifax. ..lucky you  

P.S. I for one will not be missing those awful Halifax averts  

[/quote

But also per person. So joint a/c holders are covered for £35000 each, total £70000.