Posts Tagged: Lloyds Banking Group

Nov 09

And the winner is…Lloyds Banking Group

Plus Goldman’s next acquisition

The pendulum always swings too far. The European Court recently ruled that crucifixes must be taken off the walls of Italian classrooms. Cardinal Tarcisio Bertone, the Vatican’s secretary of state, in a reference to Halloween, complained about “a Europe of the third millennium that leaves us only with pumpkins.”

Italian towns and villages run by the government’s party are up in arms. The mayor of Sanremo placed a 2-metre crucifix in the mayoralty. The regional council of Trapani bought 72 of them. In Busto Arsizio flags are flying at half mast. The Bellini theatre of Catania has placed a huge one on the stage. Nightclubs in Valle d’Aosta are attaching them to the walls. “We will never take them down,” vows the Trieste mayor.


Oct 09

Why the regulatory burden is temporary

Sir Brian Pitman of Lloyds bets on the banks

In early 1945 Josef Stalin and President Franklin Roosevelt were discussing the future of Europe. Stalin said that Charles de Gaulle did not appear to realise that the French contribution to the Allied war effort on the Western front was minimal and that in 1940 “they didn’t fight at all.”

Meanwhile,  the envoys of the US president (who had dismissed de Gaulle as a man with a Jeanne d’Arc complex), were told by the French president that, “The French have the impression that you no longer consider the grandeur of France as necessary for the world and for yourselves.”