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Cummings–losing touch with reality?

In Blog by Ian Fraser2 Comments

December 15th, 2012 In his testimony to the Parliamentary Commission on Banking Standards taken, taken in private in his Dumbartonshire bungalow on November 27th, the former HBOS corporate chief executive Peter Cummings railed against the FSA and criticised his boardroom colleagues but seemed to be as much in denial as ever. …

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HBOS whistleblower hits back at Crosby claims

In Article Library by Ian Fraser0 Comments

By Ian Fraser Published: Sunday Herald Date: December 9th, 2012 Paul Moore, the whistleblower whose evidence was key to last week’s hearings of the parliamentary commission on banking, has accused his former HBOS boss Sir James Crosby of “trying to rewrite history” about Moore’s sacking from the Edinburgh-based bank. In an interview …

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Lord Stevenson: delusional or dishonest?

In Blog by Ian Fraser0 Comments

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 …

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Sir James Crosby, the ex HBOS boss, and the concept of mercy

In Blog by Ian Fraser1 Comment

December 1st, 2012 In a comment piece in Saturday’s Times, financial editor Patrick Hosking gave ten reasons why the Parliamentary Commission on Banking Standards must show absolutely no mercy to the former HBOS chief executive James Crosby when he appears before it at 3.30pm on Monday afternoon. This is no time for faux deference, taking mendacious …

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Sir Ron Garrick fiddled while HBOS burned

In Blog by Ian Fraser0 Comments

November 26th, 2012 (updated November 27th 2012) [Note: if the video of the Parliamentary Commission on Banking Standards’ cross-examination of Sir Charles Dunstone and Sir Ron Garrick at the foot of this blog post starts to play, you need to scroll down to the bottom of this blog post to …

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Britain’s corporate failures invite a governance revolution

In Blog by Ian Fraser0 Comments

November 18th, 2012 Image: WilliamBanzai7 The bigwigs of the City of London, corporate governance ‘gurus’ in asset-management firms and leading figures from FTSE-100 companies have a penchant for patting themselves on the back over the brilliance of the corporate governance framework they have erected over the past two decades. The UK Corporate Governance …

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Book review: Going for broke

In Article Library by Ian Fraser0 Comments

By Ian Fraser Published: Scottish Review of Books Date November 17th, 2012 It was intended as a memorial to the Scots who died in the Napoleonic Wars. But it wasn’t long before the incomplete replica of the Parthenon on Calton Hill was labelled ‘Edinburgh’s disgrace’. This was because the so-called National …

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It’s time the FSA learnt the lessons of Hillsborough. Eventually the truth will out

In Blog by Ian Fraser2 Comments

17 September 2012 (Updated 11.25am) Studiously ignoring the roles of “establishment” figures like Sir James Crosby and Lord Stevenson in the demise of disastrous Edinburgh-based bank HBOS, regulator the Financial Services Authority is seeking to heap all the ordure on the less establishment Peter Cummings. I am not suggesting that Cummings is …