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The Worst Bank in the World? HBOS’s Calamitous Seven Year Life

Editorial note: June 22nd, 2012 A revised and updated version of this blog is now available via the following link:- The Worst Bank in the World? HBOS’s Calamitous Seven Year Life

May 13th, 2012 | Posted in Blog | Read More »

Clydesdale’s retreat

By Ian Fraser Published: Sunday Herald Date: May 6th, 2012   It was supposed to be Scotland’s safe bank. What went wrong? By Ian Fraser Call it Cameron Clyne’s ‘Derby’ moment. At a council of war in that East Midlands city in 1745, Bonnie Prince Charlie had to concede that weak generalship, poor logistics and […]

May 6th, 2012 | Posted in Article Library | Read More »

John Kay on the illusory nature of bank profits

April 16th, 2012 In this speech the economist and author John Kay examined how the financial sector continues to make — or claims to make — returns-on-equity which are way in excess of any reasonable estimate of cost of capital. Kay, a visiting professor at London School of Economics, examined various possible reasons but then focused on […]

April 16th, 2012 | Posted in Blog | Read More »

RKCR/Y&R’s ‘With you all the way’: A crime against advertising?

March 13th, 2012 You couldn’t make this up. Given the shocking way in which Bank of Scotland treats its customers – and particularly how it and parent company Lloyds Banking Group have treated the former business customers whose lives and companies have been destroyed as a result of the bank’s £1 billion plus “Reading Fraud” of 2003-08 […]

March 13th, 2012 | Posted in Blog | Read More »

Revealed: the hornet and the sting which are stopping us learning the truth about the collapse of HBOS

By Ian Fraser Published: Sunday Herald Date: February 26th, 2012 Results released last Friday showed a sea of red ink engulfing the state-rescued Lloyds Banking Group. Trumpeted at the time of its September 2008 formation as the “bank for Britain”, the 41%-taxpayer owned business unveiled annual losses of £3.5 billion for 2011, nearly double those […]

February 28th, 2012 | Posted in Article Library | Read More »

Clydesdale’s claims to be a prudent lender ring hollow following NAB ‘review’

By Ian Fraser Published: Sunday Herald Date: February 12th, 2012 From the perspective of its head office in Melbourne’s Bourke Street, National Australia Bank’s UK subsidiaries Clydesdale Bank and Yorkshire Bank are looking increasingly like dead weights at the moment. The Australian economy, where the Victoria-based bank has the bulk of its operations, is booming and […]

February 12th, 2012 | Posted in Article Library | Read More »

Peter Cummings’ ‘Aladdin’s Cave’

January 31st, 2012 The man who destroyed the Bank of Scotland with a reckless and out-of-control corporate and real-estate lending spree is in the media again. Mortgage Strategy has an article (Living in the age of less reason) which touches on the “pig on pork” or integrated finance model favoured by Peter Cummings, who was […]

January 31st, 2012 | Posted in Blog | Read More »

Whistleblower alleges widespread lawbreaking inside Lloyds Banking Group

January 19th, 2012 Another whistleblower has emerged from inside Lloyds Banking Group with well-documented evidence of illegal sales practices in the bank’s retail arm. Ex-Army officer and former UBS and Towry Law executive Ian Taplin was fired by Lloyds in August 2010 after he sought to alert its senior management and board of directors to […]

January 19th, 2012 | Posted in Blog | Read More »

Horta-Osório’s attempt to reinvent Lloyds will fail unless he addresses the sins of the past

June 26th, 2011 The patience of António Horta-Osório, the Portuguese-born boss of Lloyds Banking Group, appears to be wearing thin. According to a comment piece in the Sunday Telegraph, the former Goldman Sachs and Santander banker has pleaded with executives from Lloyds and the former HBOS to stop hiding the truth from him. The paper’s […]

June 26th, 2011 | Posted in Blog | Read More »

Trust Me I’m A Banker

October 11th, 2010 BBC Scotland’s Trust Me I’m A Banker will be aired on BBC1 Scotland at 7.30pm tonight. I was interviewed for the programme on whether the Graeme Shankland / Bank of Scotland Integrated Finance deal — which saw the ownership of a troublesome private equity portfolio amassed by HBOS at the peak of […]

October 11th, 2010 | Posted in Blog | Read More »