Month: April 2013

Time for TSB to come home to Scotland?

After the Co-operative Bank pulled out, Lloyds is now to launch 632 branches as a standalone business on the stock market. Could there be an opportunity here for Scotland to regain a bank headquarters?

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James Crosby under questioning

Things can’t get worse for Crosby? Oh yes they can!

Life is just not going well for former HBOS chief executive James Crosby. Not only is he about to lose his knighthood and a third of his pension, but he can’t sell his Edinburgh flat, despite dropping the price by £50,000.

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Time for Stevenson to drop his air of injured innocence: he was as much to blame as Crosby

We now know what the price of failure is for the CEO of a wrecked bank. Fred Goodwin at RBS set the tariff: a lost knighthood and a third off the pension. Now James Crosby at HBOS has fallen into line. But what should happen to the chairmen?

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Mrs Thatcher’s legacy: financial deregulation and the credit crunch

Whatever else she might be remembered for – Europe, the Falklands, the poll tax – the raft of financial deregulation Margaret Thatcher’s Government brought about paved the way for a twenty-year boom in financial services, a huge increase in personal and corporate debt and ultimately the crash of 2008.

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The role of bank boards needs to be reassessed

The Parliamentary Commission report repays careful reading, not least for its strident criticism of the board and their habit of self-congratulation rather than rigorous challenge.

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Andy Hornby answering questions

The guilty have been named. Now they must be punished


The significance of the HBOS report from the Parliamentary Commission is not in any new evidence it has uncovered – we always knew why the bank went bust – but in the uncompromising way in which it named the men primarily responsible for bringing it down, chairman Lord Stevenson and chief executives Sir James Crosby and Andy Hornby.

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