The FT has noted:
Hundreds of thousands of homeowners hoping to see a major reduction in their mortgage payments in the new year, after the reduction in the Bank of England base rate to 2 per cent, may find themselves disappointed - as not all the banks that have taken a government cash injection are passing on the full rate cut.
The time for nationalisation is fast approaching.
I presume the existing directors are hoping for a good pay-off for failing their shareholders. Nothing else explains their approach.
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