The banking commission has savaged the way HBOS was run, but it is not the only bank that has struck terror into people’s hearts. Are these are the worst offenders? You decide.
Jon Snow
Will anything be done? Will any of these people ever be brought to book? The record thus far suggests not a lot will happen.
It says a lot, that we have learnt more about what brought down RBS from a US diplomatic cable leaked to an Australian than we have from British probes.
Gary Gibbon
The Chancellor’s statement to the Commons has calmed down the secret bank loans story, although Alistair Darling was summoned to speak by an increasingly active Speaker.
Channel 4 News Economics correspondent Faisal Islam examines the news that the Bank of England loand more than £60bn to RBS and HBoS in secret.
Following on from Bailout 1.0 (the banking system) and Bailout 2.0 (the economy), Bailout 3.0 focuses on the RBS and Lloyds, two banks in which the government has acquired a significant stake.
The biggest surprise today was not the extra £50bn of Mervyn’s magic money to be created for the purposes of fertilising the embryonic green shoots spotted by stock market traders. Forget Barclays’ remarkably strong results, and Lloyds’ further revelation of the devastation wrought upon its balance sheet by the purchase of HBoS.
Jon Snow
AIG, the US insurer which got through $170bn of taxpayers’ money in order to survive and then had the cheek to pay $165m of it to dozens of senior executives, is up before a congressional committee today.
Jon Snow
I had dinner last night with a private equity guy who is still in the money. Interesting entity. He tipped me to something I had not thought about.
Jon Snow
Yes, it’s official, we are in charge of Lloyds Banking Group, aka Lloyds TSB HBOS. In fact we didn’t know it. But we’ve had it since 13 October last year. According to a release that lands on our desks this morning, the Office of National Statistics has deemed that both RBS (which we already knew…
Jon Snow
There’s nothing like a quick visit to America to remind you of the interesting contrasts between our two nations – divided as they are by a common tongue. In the United States President Obama tells bankers to show responsibility and forego bonuses because “there are people who are a lot less well off, who are…