Anyone buying LYG? It seems they are widely considered the champion of large banks in the UK. They've announced some write-offs, a refusal to raise capital, and a US currency exchange lawsuit of some sort since the original rec... driving the stock down 25% from where Nathan picked it. The yield is now near 13% - seemingly insane. The housing crisis is now feared to cause more pain to large US banks going forward than the credit crisis, though credit spreads continue to hurt the banks. Does anyone have any information on LYG's loan to value ratios on its portfolio of loans? It seems that the next wave of pain for banks in the US is going to be the mortgage defaults by prime borrowers who are underwater on their real estate - thus walking away in spite of being able to make the payments. Is this happening in the UK? Is it likely to pose big trouble for banks?Any other sage words about LYG?thanks,-TK
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