"“We have lent a huge amount of money to the U.S. Of course we are concerned about the safety of our assets. To be honest, I am definitely a little worried.” "

Chinese premier Wen Jiabao 12th March 2009

""We have a financial system that is run by private shareholders, managed by private institutions, and we'd like to do our best to preserve that system."

Timothy Geithner US Secretary of the Treasury, previously President of the Federal Reserve Bank of New York.1/3/2009

Thursday, April 02, 2009

Modest 42% profit on Lloyds Bank shares in just over one week

Those readers who followed Lord Patel on Wednesday, March 25, 2009 Repairing the old wallet. into Lloyds bank after a quick in and out into Barclays will be gratified that since buying at 57 pence the shares in Lloyds trade, as we write, up 6p today at 76.9 p a modest 42% rise in a week.

Credit crunch ? Crisis ? What crisis ... those bankers are still reeling in the profits.

Want to join in the fun ? Royal Bank of Scotland have started to move. Last price 27.40 pence (174.00% above the 52 week low of 10.00 set on January 20, 2009) up +2.30pence up 9.16%. (Closed 4.30 28.2 p up 12.35%)

Just to recap : Royal Bank of Scotland Group (RBS:LSE) was acquired by HM Treasury for $26.06bn on 08 October 2008, the share price has decreased -69.56% since acquisition by you and me. They are in fact up 18% ish ove the whole of March - but 9%+ today alone.

Dip yer bread, Fill ya boots!

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