Not So Much A Piggy Bank As A Penny Bank

Following on from RBS's near 66% drop yesterday, Lloyds TSB and Barclays have joined in the fun this morning as fears mount for the future of the entire UK banking industry.

Lloyds shares were down 25% at midday, trading at less than 50p each, having earlier plumbed to 33.8p, a 20 year low.

Barclays are also in the penny-bank club hitting a 17 year low of 70.5p.

By contrast, RBS shares soared to the dizzy heights of 13.1 pence.

The entire market is in meltdown with any one, or all, of the big banks now being seen as prime candidates for nationalisation.

The banks new motto: Be sure your sins will find you out.