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Sir Tom Farmer questions HBOS takeover

As if Lloyds Bank was not already looking for a way out of the HBOS takeover we have again seen a number of so called investment experts step into the breach and question the sense and the price of the proposed Lloyds Bank / HBOS takeover. This at a time when Lloyds Bank is rumoured to be thinking of walking away from the deal and the bank is struggling to survive.

Sir Tom Farmer is one of the more prominent business people from Scotland who has questioned the deal and the overall impact it could have on the Scottish economy. The group have written open letters to all of the UK political parties, something which will infuriate Lloyds Bank which actually stepped in at the last minute to save the bank.

There is a feeling that the move is fuelled by the proposed independence vote which is due to take place in Scotland over the next few years. However, if this is the case and Scotland ask the UK Treasury to bailout the group if the Lloyds Bank deal collapses this will leave a bitter taste for English tax payers. Some are even calling for HBOS to be set a drift and let the Scottish government sort out the mess, but that will just not happen as the Scottish economy could not support a bailout by itself.

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