any one got a feelling in their water how far LLoyds will go looking to to buy but just dont know when they are low enough

When you think about the low level of interest paid to savers, the banks most be struggling to attract new deposits. I spoke to a friend yesterday who withdrew some savings to buy a sports car he had always wanted, I wonder how how often this being replicated. I may not do that, but I would consider buying/trading shares with mine.

dealerdear

Unfortunately I think you may be right about blank, I still suspect a major difference of opinion between Blank and Eric Daniels over hbos takeover.

greed tempts me to short LLOY at +/-70p, as RBS now closed for trading at IG, but not sure there is good logic for it - shorting LLOY that is

well worth it short to 25p.

got 4% from lloyds for a 6 month term deposit as my savings account was only paying 1%.

have taken out a relatively small short position .... may add before close

Looks like LLOY didn't really need HBOS - Oh deary. Just when each Bank stops lending - the daftm Execs at LLOY thiink they'll buy a Bank.

The falling sp is the Market gnashing its teeth.


I agree (posted here earlier), UK Banks will find it difficult to attract new-money at (near-) zero-interest rates.... since Interest-rates are always "slow" to improve, so most savvy-savers would be better investing in one of the Utiities, BP etc. whee there is decent yiled and at current valuation much "upside" without the spectre of Takeover....which must be on the cards for all Banks, since they'll all tumble together.

I read RNS that Dirs of RBS are taking their "incentive-scheme" shares very seriously. . . . FWIW I think all these Bank-Execs should be grateful there is no death penalty. Shouldn't all Execs cancel their perks, on the simple basis they cannot be earned in these conditions - and - any restoration only brings us back to evens.

RBS worth no more than 2.5p.

Victor Blanks performance on sky wasn't the most convincing, he seemed a little unsure of his facts, and even when pressed on hbos writedowns he stated that he believed all the write offs had been stated, but without authority. It needed Eric Daniels to be interviewed, but I guess he was to busy getting on with the job.

I got the following impressions from the interview:-

The intention to repay the prefs this year, enabling future divs to ordy holders to be possible.

The board would resist attempts by the government to increase its stake to over 50%.

The HBOS mortgage book is of good quality with average loans at 50-60% to asset value. The problem area lies with corporate loans.

Remains convinced that the HBOS deal will prove to be a good move irrespective of the weak sp at present. He would like to be invited back in say a couple of years when things have calmed down to discuss prospects again.

Expected to save 1.5bln per annum over the next 3 years I think he said including redundancies in back office staff and IT.

Agree spitfire about his performance but, he has never been a great media speaker. He did well at Great Universal Stores (GUS) but, he was not a particularly good at media speaking. However, that never matters if the company is doing well, as was in the case of GUS.

After last night's performance on SKY NEWS
Blank chairman of a large group Lloyds Group.
does not inspire confidence to me.
How on earth does he become chair to a large PLC the directors must be rather wooden.

I saw him too and he was unsure of some his facts he came across as another FatCat trying to justify his existance..

perhaps that is why sp is plummeting

RNS (dated 19th) tells me that Lady Blank ( yes, folks his Misses). received 1398 shares ....some waffle to do with the HBOS deal er so I read it.
Now, I read it like she has been "given" these shares - if so, WHY?
Surely with Bank-shares in the mess they are in, all execs, their wives, mistresses and asunder should cancel their goodies, slushers and so on.
Grief "Keep yr heads down, - remember the Revolution....Vive!" - - - (who's that, nursey? - - - Argh; not the comfy chair!)

I missed the Sky broadcast, but the name tells it all: Balnk by Name - - - - (etc.) - - - the HBOS t/o was a personal goal, with no regard to their shareholders - witness the take-up of new shares...eh, there's yr answer....IMHO.

SP down nearly 40% in early trading . . . . . grief. Fortunately I sold my ISA-holding yesterday at a price that I thought was Madness on Wheels, (but such was my mindset), will LLOY reach 25p . . . . . ie in time for Nationalisation....or whatever, so NO - don't invite Blank back in 2-years to tell us what a good idea the HBOS-deal was - it is evident that it is RUBBISH. My investment in LLOY has dropped something like 60% - so where was the shareholder-value? AND my Bank Deposit recives under Half the interest of a year ago....I'm battered at BOTH ends!

Not Boom and Bust, dear PM..... "Brown and Bust".

posted elsewhere, it occurs to me that this interview on SKY should be investigated by the FSA -
At a time when Bank- shares were falling by the day and HBOS takeover was hardly more than dry ink, any contact between the Execs of any Bank should have been Public - ie terrestrial TV....not SKY which is a restricted broadcast.

Headline news on Sky right now usual rubbish.. yesterday it was RBS down 66% and now its lloyds turn and will be Barclays tomorrow.

Looks like the Banks are doomed completely, will there ever be an end to this madness ! Even hard cash isn't worth a lot now - dropping like a stone as it has against other currencies. Blood Diamonds and Gold the things to be in methinks.

LLOY seems to have hit a ceiling/resistance at 50 but equally seems unwilling to fall below +/-45, at least for the moment ..... there is an apparent low of 33 but my guess is that that just reflects some of the nonsense prices one sees when the stock is suspended and in auction, as has happened several times today

Let's call some reality...ignore the possibilty/probability of ONE bank being Nationalised ( that's bad news Politically).
Banks are unwilling to lend at any price.
Banks are being encouraged to lend at modest-rates (a reflection of low Bank-Rate).
So where are the Bank's profits?
1) Very little short-term due to Government restrictions/preference shares and so on.
2)Not much long-term - since no-one that doesn't have to will borrow elsewhere, OR not at all.

If that's the case . . . . why buy Bank stocks as others are selling-out?
And the fall encourages further sells . . . . doing exactly what "Shorters" anticipated.

So, until Banks are able to anticipate Profits, expect more Bad . . . . and get-out before everyone else.

BARC claims their profits are hunky-dorey - - - well they may be - but so what? Will they continue to make profits - out of "thin air" ? Especially when theiy borrowed at a stonking-rate. I imagine this hasn't worked its way through, but soon BARC will be working for the Lenders and shareholders will get Zippo.

Just depends on yr viewpoint....of the next 6-months, eh?
All IMHO...DYOR.

have now top-sliced at 44.70 and taken a very nice profit on the lump i bought this morning.

sp is now trying hard to head lower again, so i shall sit with the balance and watch