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

WTF?_2

torontoboy45 wrote: »

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.

!!!!!! Fuld certainly seems to fit the profile:

http://business.timesonline.co.uk/tol/business/industry_sectors/banking_and_finance/article5336179.ece

To say he was surrounded with a cult of personality would be an understatement. He was the textbook example of the “command-and-control CEO”. More than that, to many employees and to the outside world, he was Lehman Brothers – his character inextricably intertwined with the firm’s.
Fuld inspired great loyalty and, on occasion, great fear. Those closest to him slaved like courtiers to a medieval monarch, second-guessing his moods and predilections, fretting over minute details of his schedule down to the flower arrangements and insulating him from trouble – from almost anything he might not want to hear.

nickj_2

the fact that he was appointed to the fsa by brown and that he has now stepped down suggest's that it was done to save brown from even more humiliation ..... if he had any dignity he would go too

torontoboy45

!!!!!!? wrote: »

!!!!!! Fuld certainly seems to fit the profile:

http://business.timesonline.co.uk/tol/business/industry_sectors/banking_and_finance/article5336179.ece

at least shakespeare's fave hate figure, richard 3rd, had the humility to admit to errors of judgement.
sorry to get all literary.

cogito

Surprisingly, KPMG were HBoS's auditors. Some independence!