HBOS and RBS get a right bollocking
I watched the proceedings of the UK Treasury Committee with HBOS and RBS this morning on Bloomberg UK TV and it was a dismal sight. It had the feel of the Nuremburg trials, honestly. The clip below doesn’t do justice to how tense the atmosphere was.
I will say this: these men from HBOS and RBS ran very aggressive organizations, piling in to all manner of risk at the top of the market. While they dissemble and prevaricate, it is plainly obvious that they did not see the risks in their actions, nor did they want to.
If I find better footage, I will post it.
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They might have taken Calculated Risks where, they forgot to Calculate the Risks! Collectively, all the bankers are responsible for current downturn; where the shareholders, customers, employees and other Industries are being affected. This is the best example of Greedy people at the top who earn almost 10000% more in Salary than the lowest salary in their organisations!