Black Horse Ride

Black Horse Ride

4.11 - 1251 ratings - Source

In September 2008, HBOS, with assets larger than Britaina€™s GDP, was on the edge of bankruptcy. Its collapse would have created the biggest economic crisis since the 1930s and a major political disaster for the Labour government. HBOS was rescued by Lloyds TSB, one of the countrya€™s strongest banks, in circumstances that have since become the stuff of City legend. Gordon Brown, known as the a€˜midwifea€™ of the deal, was accused of a€˜jamminga€™ the two banks together over a drink at a cocktail party with Sir Victor Blank, the Black Horse banka€™s chairman. He didna€™t a€“ but without his intervention it couldna€™t have happened. Black Horse Ride tells the inside story of what really occurred in the aftermath of the crash of Lehman Brothers, perhaps the worst single day in banking history, when even the mighty Merrill Lynch had to be rescued and HBOS had to be bailed out. Through a compelling cast of high-profile bankers, politicians and investors, Ivan Fallon brings together the accounts of all the power players involved in this dramatic saga for the first time a€“ including the key roles played by the Governor of the Bank of England, the Prime Minister and the Treasury.Citibanka#39;s presentation ended: a#39;What could rerate Lloyds TSB? Ita#39;s earnings, earnings ... Lloyds had to write off Ap1 billion on credit card debts, causing Daniels to reduce the banka#39;s commitment to that difficult business. At Diala#39;s suggestion, he anbsp;...

Title:Black Horse Ride
Author:Ivan Fallon
Publisher:Biteback Publishing - 2015-06-18


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