Oct. 13th, 2008

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From the BBC story:

Barclays has struck a deal to raise £6.5bn of new capital - saying it was confident of raising that from shareholders and investors, rather than going to the government - meaning it will not have the government influencing its day-to-day decisions.

It also said it would abandon its dividend for the second half of this year, to save £2bn.

So, that seemingly leaves Barclays and HSBC outside the scope of this deal... with RBOS, HBOS and Lloyds TSB accepting the government's funding. Um. Will need a while to thinl about the implications, but at first glance it sounds like Barclays have done the right thing, if they're sure about that funding...

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