Sunday, March 08, 2009

Only Green Custard?

So absurd.
Lord Mandelson has reiterated that the government has no plans to nationalise the banking sector. His comments come two days after the government increased its stake in Lloyd Banking Group to 65% from 43%. ... Ruling out full nationalisation, such as happened at Northern Rock, he said the majority ownership model at Lloyds and RBS enabled the government to "exercise a great deal of influence... without taking that final step of removing the shareholders".

Not sure I'm heartened or saddened that it isn't just us. Shareholders need to eat it.