In 2009, the bank made an operating loss of £6.3bn, almost unchanged on the £6.7bn it lost in 2008.
Part of these losses were due to the costs of taking over HBOS during the financial crisis. Lloyds has been accused of not undertaking proper due diligence on the takeover, and therefore underestimating the extent of the bad loans on HBOS's books.
This meant the government had to step in to bail out the troubled bank.
This wasn't the fucking deal where Gordon Brown strong-armed Lloyds into hurriedly taking over HBOS, was it? Leaving no time for due diligence on a deal Lloyds didn't want anyway? That saved the government from having to admit that another bank was in trouble thanks to the brilliant regulation of, er, Gordon fucking Brown?