Yesterday, the speculation reached a crescendo with shares in HBOS falling 19 per cent in early trading on rumours it was struggling to fund its day-to-day business. A slew of e-mails crossed the City revealing that an emergency meeting at the Bank of England had been called to help. More than £1.5bn was wiped off HBOS’s market value in the first hour of trading before the bank had time to respond.

by stupid-market | 2008-03-20 12:59 | Banking
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