Because we don't understand banking, and we don't understand...

Because we don't understand banking, and we don't understand Asia.

What is the biggest British bank? Bigger than nos. 3, 4 and 5 put together?

HSBC, or the Hong Kong and Shanghai Banking Corporation. (I bet the yanks didn't even know what HSBC stood for).

And the fifth biggest? Standard Chartered, which has always had a large Asian presence.

Why anyone who knows anything about British banks could be surprised that they want some of the action is incomprehensible.