In what only can be described as a “Fire Sale”, the forced sale of assets by Lloyds Bank to appease the European Union this fellow has the bare faced cheek to state that,
“….perhaps three new entrants will be brought in….” as “….the government seeks to boost competition….” AND “….What I want to do now is begin the process of reform and reconstruction so we have got a safer, more competitive banking system with more high street banks than we have at the moment, with new entrants coming in….” AND “….I’d hope that you’d have perhaps three new entrants over the next few years….”
Let us recapitulate here: this is the man who along with his fellow confidence trickster Gordon Brown prevailed upon the then reasonably secure Lloyds-TSB to help the government and the country by taking over the bankrupt HBOS. In a Quid-Pro-Quo, these two charlatans promised that Lloyds-TSB would not face any competition or monopolist queries. Of course they could deliver on such a promise. This did not however stop these two tricksters from making it however !
Clearly, businesses such as Tesco – well known for screwing the last penny out of poor farmers and other suppliers – are not going to pay any more than they have to for these potentially valuable assets – for they will know that Lloyds are being forced to sell – with heavy penalties if they do not!