In September 2008 Lloyds Bank bought HBOS, the mess that was left from what was once Halifax Building Society.I asked a City analyst what he thought. He replied: You know what you get when you merge ice-cream with horse-manure? Horse-manure.That’s how I feel about Nationwide Building Society’s near £3 billion takeover of Virgin Money, a business with a brand that will disappear and otherwise a load of problems, some of which we know about, and some of which shall emerge in time.
