From today's telegraph....
"Sir Victor Blank, the chairman of Lloyds Banking Group, and Eric Daniels, its chief executive, were hanging on to their jobs last night after signing a deal that could result in the taxpayer owning more than 75pc of Britain's biggest domestic lender."
The Lloyds-HBOS deal was an unmitigated disaster. However, Blanks and Daniels didn't cook it up on their own; Brown was the architect of this destructive merger. Herein lies the problem; if the Lloyds duo are forced to resign over this deal, then it leaves Brown rather exposed.
You have to wonder about Brown's political judgement. It didn't take too much imagination to see that gluing a toxic bank like HBOS to the otherwise healthy Lloyds bank might actually destroy two banks instead of one. Moreover, his intervention over this issue was so public that he needlessly tied himself to this sinking stone that now threatens to drag him under.
Wouldn't it have been better to delegate this issue to some expendable no-name junior minister. When things turned custard, Brown could have hidden behind her; thus evading responsibility. I thought that this was standard operating procedure for any competent Prime Minister.