Times Online – Why did HBOS need to be rescued by Lloyds TSB? Where should the finger of blame point?
For many, the answer is clear – Mayfair.
The streets of London W1 house some of the world’s biggest hedge funds, which now stand accused of bringing HBOS and other financial institutions to their knees.
Their weapon? Short-selling, the process of betting that a share price will fall.