December 9th, 2012
Having endured three and half hours of the “evasive, repetitive, unrealistic” former HBOS chairman Lord Stevenson last Tuesday, I was amused to read what Kate Burgess had to say about the fiddle-playing peer in the Financial Times’ Lombard column on Wednesday.
God Bless Lord Dennis Stevenson. The former HBOS chairman says governance at the bank, rescued from collapse under the weight of toxic debt during the financial crisis, was “rather good”, adding: “There was just no way we were encouraging a culture of excessive risk-taking.”
The shipping line boss who said the Titanic was unsinkable is an enduring symbol of hubris. But at least he changed his tune when he found out the ship had actually sunk.
Stevenson was appearing before the Parliamentary Commission on Banking Standards the day after two successive chief executives of the disastrous Edinburgh-based bank, James Crosby and Andy Hornby, made their appearances. If you can bear it, the full, three-and-half-hour session with Stevenson can be viewed via Parliament TV.
If you’re interested in finding out about how Lord Stevenson’s shmoozing at the heart of the UK Establishment has, so far, ensured he has not been held property accountable for his disastrous stewardship of HBOS I would urge you to read Fiddling while his bank burned: His disastrous reign at HBOS cost taxpayers £20bn but the REAL scandal is how this arrogant Blair crony has escaped blame for so long by Tom Rawstorne and James Salmon.