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If Lloyds Bank is taken over by the government who will be next?

Of all the banks in the UK, Lloyds bank was seen by many as the most conservative establishment of them all. While the company did get its fingers burned back in the 1980s, with exposure to Third World debt, it has been very cautious over the last 20 years or so. The revelation of a potential £10 billion write-down on the HBOS acquisition from day one would appear to be a worst case scenario and a complete nightmare for the Lloyds bank directors.

However, with Lloyds bank apparently in serious trouble many analysts believe it is only a matter of time before the remaining group of leading UK banks are also taken under government control. This would be a complete nightmare and leave the authorities with a substantial capital requirement to keep all of these companies afloat and try to inject some confidence into the money markets.

The government then has the added responsibility of managing the top tier of the UK banking system and the various competition and regulatory issues this could bring. While many people had assumed the banking sector would not recover in the short term, very few had expected HBOS to deliver such a damning set of figures after the Lloyds bank takeover.

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