Home » Bank of Scotland You are browsing entries tagged with “Bank of Scotland”

Banking’s Abu Ghraib

Revised October 3rd, 2010 (minor edits August 18th, 2015) A fourth person has been arrested in relation to Thames Valley Police’s investigation into “corruption and large-scale fraud in connection with HBOS”. [Note: comments on this post have now been disabled and earlier comments from witnesses have been removed as a result of the police investigation […]

October 2nd, 2010 | Posted in Blog | Read More »

Why Lloyds TSB’s “for the journey” campaign makes me feel queasy

July 29th, 2010 Am I alone in finding the “For the journey” television commercials for Lloyds TSB (early example above) nauseating? I would dislike these ads whichever brand they were for. But the fact they’re for Lloyds — a brand which like BP has become somewhat toxic of late — makes me want to throw […]

July 29th, 2010 | Posted in Blog | Read More »

Skulking in Gresham Street

February 26th, 2010 Lloyds Banking Group, AKA “the most hated bank in Britain“, today unveiled higher-than-expected annual losses of £6.3bn. The Gresham Street-based bank also admitted that bad debts, largely arising from the poisonous legacy of Peter Cummings, HBOS’s former head of corporate lending, soared to £24bn in 2009. As BBC economics correspondent Hugh Pym pointed out […]

February 26th, 2010 | Posted in Blog | Read More »

Bischoff’s £8bn misjudgement over Dubai

December 2nd, 2009 Sir Win Bischoff, the chairman of Lloyds Banking Group and a past chairman of US bank Citigroup, is clearly a man who is easily misled. In December 2008, soon after Citigroup was bailed out by US taxpayers — from whom it received a $306bn ‘undisguised gift’ last autumn — Bischoff signed off […]

December 2nd, 2009 | Posted in Blog | Read More »

The bank, the regulator and the Vavasseur fraud

November 8th, 2009 (first published January 2009) (Minor edit on 20 March 2014) No touch regulator? John Tiner was the FSA’s boss from April 2001 to July 2007 One of the FSA’s roles is supposed to be to protect consumers from being ripped off by crooks and charlatans in the financial world. But the City […]

November 8th, 2009 | Posted in Blog | Read More »

Soft soaping Sir Victor Blank adds little to sum of human knowledge

August 23rd, 2009 Sir Victor Blank, who has been forced out as Lloyds Banking Group chairman by investors, has spent the weekend trying to exorcise some ghosts and salvage what’s left of his reputation. Blank went on a PR offensive, granting interviews to BBC business editor Robert Peston and Andrew Davidson of the Sunday Times. In […]

August 23rd, 2009 | Posted in Blog | Read More »

The recklessness of Cummings

July 13th, 2009 Speaking on Bloomberg TV, Justin Urquhart-Stewart, director of Seven Investment Management, has described HBOS as being “pregnant with the spawn of Satan” by the time Lloyds TSB saved it from extinction last September. I don’t think he’s far wrong. Most of the damage was done in the corporate lending arm, overseen by Peter […]

July 13th, 2009 | Posted in Blog | Read More »

Scottish Agenda: Archie Kane can’t croon away the unpalatable truth

By Ian Fraser Published: Sunday Herald Date: 24th May, 2009 In a Val Doonican-esque session, Archie Kane, Lloyds Banking Group’s most senior director north of the border, recently stressed that his bank is committed to Scotland. In the opulent surroundings of Edinburgh’s Signet Library, in front of an audience of business bigwigs, Kane stressed that […]

May 24th, 2009 | Posted in Article Library | Read More »

Why the FSA believes that HBOS should police itself

By Kenny Kemp Published: Sunday Herald Date: March 8th, 2009 The FSA’s decision to allow HBOS the same level of self-regulation as the healthy Barclays just months before its collapse and takeover appears to be an extraordinary lapse of judgement by the regulator. By Kenny Kemp THE FINANCIAL Services Authority gave HBOS a gold-plated level […]

March 8th, 2009 | Posted in Article Library | Read More »

Why Crosby must step down from FSA, and step down now

February 10th, 2009 It was a case of “we’re sorry but we’re not to blame” at the Treasury Select Committee hearing on Tuesday morning. The four erstwhile titans of finance got in their “unreserved apologies” soon after proceedings got underway, but any sense of personal culpability had melted away by the end of the session […]

February 10th, 2009 | Posted in Blog | Read More »