Lloyd’s & RBS Fall Despite Asset Insurance Scheme, Will Barclays Be Next?

Lloyd’s (LYG) asset insurance scheme participation was announced on Saturday; but the share performance today has been poor, with the price dropping 10% or so in early trading.

RBS (RBS), whose shares jumped on the back of their participation to over 30p, have dropped back to 18p. Quite a fall in the space of a week or so!

If Lloyd’s was the good bank in Brown’s eyes for saving HBOS, then RBS was the ugly, in that it just accumulated huge debts under the now despised Fred Goodwin. (HBOS too could be seen as ugly were it too still exist…)

However, now it is the turn of the bad, Barclay’s (BCS). As we have reported before, Barclay’s makes much of its money out of selling tax avoiding schemes. Barclay’s more recently is guilty of gilding its results with some interesting number crunching post its Lehman takeover.

When the treasury mandarins have had their sleep, it will be Barclay’s turn to negotiate with the Government. RBS had a share price bounce, but fell back, LLoyd’s share price fell 50% odd. The omens do not look good for the Varley and Diamond show.

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