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By Philippe Legrain ADD COMMENTS

Allowing Lloyds TSB to take over HBOS was an act of desperation: even though the merged entity would dominate the UK banking market, the government signalled that it would approve the merger in order to stop HBOS going under.

But now that the government has stepped in with its bank recapitalisation and funding plan, wouldn’t it be better to let HBOS survive as an independent bank?

Posted 09 Oct 2008 in Blog

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