So, that whole thing about us taking your toxic assets and you just moving on with life? Not so much.
Barclays was warned on Monday that its balance sheet would be subject to forensic Treasury examination if it decided to dump toxic assets on the taxpayer, amid signs that the bank could face a higher-than-expected bill for using the government's asset insurance scheme.
Barclays executives are studying the terms of the Lloyds deal to insure £260bn of assets as they decide whether to formally apply to join the scheme before a March 31 deadline.
"See, this is a 'you scratch my back, I scratch yours' sort of situation here. What we really want here is you lending again to who we want you to lend, and you've really not been a team player on this point. We haven't forgotten when you turned your nose up before when we offered our help. No-siree. Some people were a little... put out. Going to "Middle Eastern investors" instead of the British Government? What's wrong with you, man?"
Barclays warned on toxic asset dumping [The Financial Times]