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Hi Jonny, the short sellers are not the problem. Alex Salmond said the Bank had been ruined by City Boys and Spivs ,but the truth is it was vandalised by a Clown and a Comedian. The situation is next year it needed 150 Billion refinancing but had 47 Billion of joint ventures in the property market and that is probably only worth 70p in the ? , add to that the Pension fund deficit and the Bank was well and truly fucked.I say this as someone who holds the shares. The short sellers did their job worked out the Banks price was overvalued and sold them all the way down. Today the short sellers got fucked and that is just the market

I suppose you're right, the short sellers do expose underlying weaknesses. I used to have savings in the Halifax, but transferred them out when the shares started to plummet at the beginning of the year - they dropped about 35% in two days. The best thing Lloyds TSB could do is to ditch the Halifax name completely, because it's got bad associations. The other thing that I never liked about Halifax was the amount of junk mail and cold calls they give you, trying to push their own products - always gave me the impression they were running some sort of pyramid investment scheme, which in retrospect appears to have been the case. Obviously they were so short of ready cash they resorted to these techniques.

There was an interesting segment on the radio, linking the government's desire for uncontrolled immigration to the banking problems - claiming the government knew a long time it was coming and one way to stall it was to let millions of people in to keep the wheels turning a little longer. For NL the bubble burst a bit too soon.

Hello Jonny , One thing Immigration did do was create the demand for homes inside the M25 and then later outside it.
600,000 Poles plus another 400,00 all needed a place to live and a roof over there heads and this in turn kept the housing market booming.The pity is that the Government did not use the time thee housing boom created to sort out the underlying problems.One other casualty of the sad HBOS affair is The British Linen Bank which will now probably disappear . See history below http://www.hbosplc.com/abouthbos/Histor ... n_Bank.asp