Recently in the UK Lloyds TSB has merged with the HBOS group which includes the old
This could mean thousands of job losses as high street branches close to allow for just the one branch. What is also a major concern is because the banking competition has been watered down by having a large player in the financial market good deals on mortgages and lower rate loans could be impeded.
The Federal reserve and the
What also will happen to the home owners who have a bad credit mortgage with high interest rates and fees. And little loan to value within their properties to bargin with.
Finance markets have dropped heavily due to the uncertainty. The worry is even if the
There is a feeling that this is part of a series of bad economy news waves that will hit the
European countries are potentially looking for unity on banking policy. For example the amount of guarantee a country will offer savers on their deposits on their saving accounts. If countries are offering different levels of deposit guarantees, then this causes problems as savers in other countries may be tempted to deposit money in a country that has a higher guarantee level. And so that would have the effect of finance deposits leaving a country which is obviously not a good situation.