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Your intergalactic dividend

Apparently the UK Shareholders’ Association is forming an action group to represent shareholders angry at the merger of Lloyds TSB and HBOS and what it describes as creeping government control of the now super-bank.

This is pointless and a waste of time. The collapse of HBOS would have been unbearable and the fact that its toxicity could have brought down Lloyds TSB, merely unfortunate. The risk of standing by and doing nothing and watch the combined entity falter, unthinkable. Add to that that the move was approved by 96% of Lloyds TSB shareholders and UKSA are on a road to nowhere.

Besides, my stake, as a fellow taxpayer, could rise to 77%. It could even go up to 100%. And that’s fantastic news. In a 1,000 years when all is back in order and the newly privatised Intergalactic Lloyds Banking Group pays its first dividend out to shareholders, my descendants, and yours too, are going to be wealthy indeed.

There’s nothing quite like preparing for the future and I’ve already amended my will accordingly. I suggest you do the same.

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Market watch 23.03.09

Swaps had a mixed week. At the beginning of the week they surged before settling back slightly. Shorter-term money edged lower than the previous week whereas longer-term rates increased. Three-month LIBOR is now 1.81%.
1-year money is down 0.07% at 1.71%
2-year money is up 0.01% at 2.21%
3-year money is up 0.06% at 2.52%
5-year money is up 0.07% at 3%

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