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Could the FSA be getting serious about HBOS wrongdoing?

February 23rd, 2010 Jo Dawson and Dan Watkins, the two senior executives who resigned from Lloyds Banking Group on February 5th 2010, were apparently forced out after the FSA told them that, unless they made themselves scarce, it intended to strip them of their “approved person status”. Or so rumour has it. There has been […]

February 23rd, 2010 | Posted in Blog | Read More »

SNP crony row as boss of failed resort buys it back on cheap

By Ian Fraser and Michael Tait Published: The Mail on Sunday Date: February 22nd, 2010 AN SNP donor whose ski resort went bust owing the taxpayer millions of pounds has been allowed to buy it back in a cut-price deal. The Aviemore complex, which was jointly owned by Nationalist supporter Donald Macdonald, collapsed last summer. […]

February 21st, 2010 | Posted in Article Library,Investigations,Latest Articles | 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 »

WAITING GAME

By Ian Fraser Published: CA Magazine Date: December 1st, 2009 Bank of Scotland’s office on the Mound remains fog-bound Potential vendors are waiting for a recovery, potential acquirers are waiting for the bottom of the market and, as Ian Fraser reports, corporate finance professionals are waiting for dealflow to pick up Scotland’s dealmakers have had […]

December 1st, 2009 | Posted in Article Library | Read More »

The unanswered questions around the emergency HBOS cash call

By Ian Fraser Published: Independent on Sunday Date: November 8th, 2009 Just four months before its humiliating collapse into the arms of Lloyds, the bank’s chairman assured shareholders that it had sufficient funds for at least a year. How could he have got it so wrong? Ian Fraser reports Lord Stevenson of Coddenham, the chairman […]

November 8th, 2009 | Posted in Article Library,Investigations,Latest Articles | Read More »

Examining HBOS

November 3rd, 2009 (first published June 9th, 2009) [Note: comments on this post have been disabled and earlier comments from witnesses have been removed as a result of the current Thames Valley Police and Serious Organised Crime Agency investigation and expected trial. Ian Fraser, January 5th, 2011. Minor edits on January 29th, 2012] A recent […]

November 3rd, 2009 | Posted in Blog | Read More »

Is Lloyds the new Enron?

Updated October 29th, 2009 (first published October 9th, 2009) Lloyds Banking Group has been given the go-ahead to proceed with a £13.5bn rights issue as part of a wider capital-raising. Given their knowledge of the extent of the challenges facing the bank, were the tripartite authorities (the FSA,  Bank of England and H.M. Treasury) well-advised […]

October 29th, 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 »

Scottish Agenda: The revolving door that shuts out taxpayers

By Ian Fraser Published: The Sunday Times Date: July 19th, 2009 Is the taxpayer losing out in pre-packaged administrations that leave state-owned banks swallowing debts? Can we call pre-packaged administrations — which allow professional advisers quickly to put a company into administration, wipe out its debts then immediately sell it on — a fair means […]

July 19th, 2009 | Posted in Article Library | Read More »

Rogers: failed banks should have been allowed to go to the wall

July 14th, 2009 Did the UK government have to bankrupt our economy by bailing out dysfunctional banks such as Royal Bank of Scotland and HBOS? It’s a question which has been intriguing me since prime minister Gordon Brown won plaudits for rescuing the banks in October 2008 and one to which I have yet to […]

July 14th, 2009 | Posted in Blog | Read More »

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