HBOS *sacked* head of risk who warned them of dangers in 2005

maryotuam

Will James Cosby get away with this scot free? Will Gordon Brown play it down? Will the newspapers and TV play it down by relegating it to the back pages?

The vast majority of the British public don't think for themselves and are easily distracted by celeb stories. The media set the agenda and if this incompetency and crookery is not featued then truth slips into oblivion.

Why oh why is there not one politician who cares enough to shout about this fraud on the taxpayers from the highest rooftops.!!!!!!!!!!!!!!!!!

icefall

Some regulation should be put in force and thought through carefully. Atm all we are getting is people talking about it lots on tv etc and deploring it. But no action as yet - why not?

If any other matter was in the public eye so much, they would have rushed something ill thought out, through parliament by now.

sabretoothtigger

fsa as i understand it is a kind of industry self regulation system, obviously that didnt work

dealsearcher

This for me was why the apology was a nonsense, a PR stunt. They employed someone to manage risk and when that person told them something they didn't like they sacked him.

nickj_2

the fact that sir james crosby is deputy chairman of the fsa is akin to putting dracula in charge of the blood bank

setmefree2

vivatifosi wrote: »

Not only did they remove the head of risk, they replaced them with someone with a sales background and when the panel repeatedly asked if they had any experience of risk they said they had (sorry if I'm paraphrasing here) that they had extensive banking experience. .

In the recent past most CEOs of banks have not come from the banking sector:o That is, they have no experience of banking...

chucky

a quality story and you could not have written the script.

seems a bit "kiss and tell" but shows that the cliques in the board room shouldn't be challenged unless you want to lose your job.

Thrugelmir

He said: "I told the board they ought to slow down but was prevented from having this properly minuted by the chief financial officer.

Was Mr Moore on the board? Minutes can only be approved if all Directors agree to them.

Sir_Humphrey

Utterly disgraceful.

torontoboy45

chucky wrote: »

a quality story and you could not have written the script.

seems a bit "kiss and tell" but shows that the cliques in the board room shouldn't be challenged unless you want to lose your job.

it seems that all of the main players created a command and control structure at boardroom level, which intimidated members into acquiescence and silenced open debate - masters of the universe indeed.

btw: does anyone know if any of the non-executive directors (the ones who are supposed to represent shareholders' interests) rec'd 'brucie' type bonuses?