by widgette.com
Bank failures continue to escalate over the face of the globe. Four more US banks were closed by regulators in Nebraska, Florida, Illinois and Oregon.
In the UK, Lloyds is already 43.5% government owned after having to seek assistance last fall. Now, they face $14.2 billion loss. At the same time, they still wish to pay multi-million dollar bonuses to employees. It is unlikely the government stakeholders will approve such bonuses. On the other hand, the government may be forced to nationalize the bank.
Tags: banks, business, economic crisis, economy