Secret HBoS papers a cause of concern

Commenting on the report in today’s Observer concerning documents used during the recent court case against the Lloyds/HBOS merger, SNP Treasury spokesman Stewart Hosie MP said;

"The UK Government's involvement in the Lloyds takeover has long aroused concern.

"For the dossiers used to convince the courts to be kept secret only adds to the suspicion that Gordon Brown and Alistair Darling have something to hide.

“That questions have been raised about the documents still even existing is equally concerning.

"That they are pursuing those who fought to protect shareholders from the bad debts and bad deal that has emerged for court costs is simply ridiculous.

"The clear evidence from the FSA that there was an alternative and that the banks could have been supported as two separate entities - instead of merging their problems into one giant bad bank - throws even more doubt on Government claims it was the only option."

ENDS