What a difference 24 hours makes.  Now Lloyds are in advanced talks to takeover HBOS and avert this crisis.  What will the next crisis be though?

FT.com / Lex / Financial services & property – HBOS

That prospect is of course so terrifying for the UK government that it will do everything in its power to avert such an outcome. HBOS, after all, houses one pound in every five saved in the UK. If that means allowing Lloyds TSB to acquire a dominant position in UK retail banking – the combined group would control about a third of the UK mortgage market – so be it.