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  • Lloyd's Dampens Investor Confidence [View article]
    On the subject of Lloyds and HBOS one of the interesting sidebars on the amalgamation of the two banks was the embarrassment caused to Gordon Brown last week by the magnitude of the loss and a stupendous example of cronyism at work between top bankers and politicians.
    The man who ran up the lousy mortgage book at HBOS - a certain Sir (mustn't forget that bit) James Crosby - had to step down from his position as the deputy chief financial regulator at the FSA after it became apparent that he (Crosby) had failed to properly heed a warning from the very same regulators back in 2005 about the risks that HBOS was taking with its aggressive mortgage lending strategy.
    No wonder these people can't find a solution to the crisis.
    Feb 15 11:36 am |Rating: +1 0 |Link to Comment
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