Taxpayer underwrites another £260billion of 'toxic' loans as State takes over Lloyds

Daily Mail
"The Lloyds deal is particularly humiliating for Labour because Gordon Brown personally intervened to broker Lloyds TSB’s £8billion takeover of ailing HBOS in September to create the new banking giant.Brown urged Lloyds TSB’s chairman Sir Victor Blank to make the deal, promising to waive competition rules. But far from being a rescue, the takeover has infected the previously robust Lloyds with HBOS’s bad assets."