Lloyds Bank set to give Gordon Brown well-timed boost
This week could see Lloyds Bank indicate to the market that the company has returned to profit and is back on the growth path. This comes at a time when the UK taxpayer is baying for the blood of the UK government after investing billions upon billions of pounds into the banking system. Over the last few months we have seen significant losses in taxpayer share stakes in Lloyds Bank and Royal Bank of Scotland but now both companies would appear to have turned the corner and there are high hopes that taxpayers may well at least get their money back.
This comes at a time when the banking sector is still the devil incarnate in the eyes of politicians and the UK taxpayer. If Gordon Brown is able in some shape or form to indicate that share stakes in Lloyds Bank and Royal Bank of Scotland could well be sold at a profit in the foreseeable future he would then be able to justify his high risk/potentially high return strategy. This is an interesting development in what has been a very difficult year for the UK banking sector and the UK government.
If Lloyds Bank does return to profit in the short term what would this be worth at the ballot box?
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