Second thoughts on Lloyd's TSB-HBOS merger

The Economist carries an article that outlines not just the delicate balances one has to strike when a bank bailout is decided upon, but also proposes rolling back of the Lloyd's-HBOS merger, on grounds that if taxpayers' money will go to the merged entity, then HBOS may as well be rescued on its own, as that would then retain competition, which the proposed merger threatens to reduce.