Now let me make sure I've got this right. HBOS and RBS, the two worst-run and most imprudent banks in the country, have cost the country billions to bail them out. Lloyds TSB, Barclays and HSBC are wounded but not fatally injured like the two Scots banks. Consequently, a deal is being put to HBOS shareholders for a takeover by Lloyds TSB that will provide the troubled Edinburgh firm with stability and offers a real prospect, in time, of getting HBOS back into the black.
This is being opposed by two bankers, Peter Burt and George Matthewson, who, erm, used to run RBS and HBOS and who now say they're best placed to run HBOS.
I rather think Burt and Matthewson have done quite enough damage already to let them have another go at bankrupting the British banking system; in fact, the pair of them ought to be under criminal investigation, as their counterparts in the US are, for their reckless and negligent incompetence. Is there no mechanism for freezing these men's assets whilst we determine what degree of culpability they bear for the mess we're in? Apart from the misuse of terrorism legislation, it seems not.