If you are one of the 1,500 people who stand to lose their jobs because Lloyds Banking Group is to close all 164 branches of Cheltenham & Gloucester, you would undoubtedly be pretty pissed off right now.
After all, when the "merger" with HBOS was announced it was pretty clear that the LLoyds businesses were pretty robust and the mortgage book was reasonably sound, although not perfect. One would have thought that any job losses would have fallen on the other side of the fence.
Moreover, when the Prime Minister waved the merger through all the normal anti-monopoly processes, it would seem that the bank and its employees were getting a free ride.
Not so, beause what Brown and his lackey Victor Blank forgot to mention was that the EU also has a say in these matters and they don't look to kindly on the notion that the average British High Street should be full of Lloyds Bank operations selling mortgages.
I don't really see the problem with that. If Lloyds wanted multiple operaions selling against each other I am not to bothered. They don't have a monopoly on High Street sites. There are plenty of empty storefronts in most British towns, and more outlets will generally mean more choice not less.
No doubt the reality is that Lloyds management see the excess capacity as ripe for cost saving, but ne can't help seeling sorry for all the diligent C&G workers who will lose their jobs as a result of an exercise to bail out another incompetently run Scottish bank.