Author: Ray Perman (Page 1 of 5)

Too little, too late! FCA report fails to say if it has closed the stable door

 

It is seven years since the collapse of HBOS – the second largest collapse in British banking history (after RBS) and one which cost the UK taxpayer £20 billion, Lloyds and former HBOS shareholders £54 billion and 40,000 bank employees their jobs.

Read More

HBOS report next week: Cross fingers for justice, but don’t hold your breath

 

Looking back I discover it is almost exactly a year ago that I wrote that the extremely tardy official report into the collapse of HBOS would be published “early in the New Year.”

Read More

Commission misses chance to break up big banks

Four banks — Lloyds, RBS, Barclays and HSBC — have over 70% of the personal current accounts in the UK between them and over 80% of the current accounts of small businesses. This is not a new situation, it was identified 15 years ago in an official inquiry.

Read More

Should we break-up RBS?

Unlike Lloyds, where the Government has been steadily selling shares it acquired when the bank had to be rescued in 2008, RBS remains 80% owned by the public. Despite a drastic pruning of its balance sheet and the sale of non-core businesses, its stock price is still substantially below the level at which taxpayers, who funded the £45 billion recapitalisation of the bank, would get their money back.

Read More

Bank of England non-execs – you can’t even use them to wash your socks

According to the television executive Michael Grade non-executive directors are like bidets – no-one is sure what exactly they are for, but they add a touch of class.

Read More

Do Stevenson and Hornby hold a “Get out of Jail Free” card?

I’m told the extremely tardy official report into the collapse of HBOS will be published early in the New Year and will contain criticism of the former chairman, Lord Stevenson, and chief executive, Andy Hornby. Whether it also imposes sanctions is another matter.  

Read More

Why the Scottish Government should help fund the Green Investment Bank

My last blog highlighted an opportunity for the Scottish Government to take action no matter what the outcome of the referendum on September 18 and this one is the same. No matter whether we are heading for independence or sticking with the Union, there is a strong case for co-funding the Green Investment Bank.

Read More

A golden opportunity to reform the Scottish banking market

Whatever the referendum result on September 18, the Scottish banking system needs reforming and the Scottish Government has a golden opportunity to try to do something about it.

Read More

Class actions likely to end in pyrrhic victories for Lloyds & RBS shareholders

Shareholders in Lloyds and RBS will get their day in court. That will at least enable them to vent their frustrations and further expose the stupidity of the boards and executives who presided over the catastrophic drops in the value of their investments, but both actions are likely to result in pyrrhic victories.

Read More

Justice delayed — and justice denied

Could the HBOS three finally get an official slap on the wrist for losing £54 billion, forcing the Government to rescue the bank and impoverishing millions of bank employees and small shareholders?

Read More

Page 1 of 5

Powered by WordPress & Theme by Anders Norén