I feel for those I know at Lloyds firstly because I know them, and secondly because I used to work for Bank of Scotland (now HBOS, now Lloyds). What is poignant is that Lloyds was the risk averse bank.  This merely validates the point that the banking model is broken when a strong bank can find itself in this sad situation. Also note the reference to Darlings comment that Barclays are next.  Strange days indeed yet I still feel the root cause has not been ferretted out.  I see nothing in Central bank comentary about the derivatives market and the … Continue reading Lloyds next, and then Barclays