Lyttleton: "UK banks are so stuffed"

BlackRock UK Absolute Alpha fund manager Mark Lyttleton has branded UK banks as 'stuffed'. Speaki...

BlackRock UK Absolute Alpha fund manager Mark Lyttleton has branded UK banks as 'stuffed'. Speaking at a Fidelity FundsNetwork Investment Forum this afternoon, Lyttleton says while Britain's banking institutions are in a dire condition, he does not expect the government to take total widespread control. "It is quite clear banks need more capital injections," he says. "The government would prefer not to formally nationalise the banks. But (they will be) nationalised in everything other than name."