On 19 September 2008, with HBOS heading for the rocks, CEO Andy Hornby shakes hands with Lloyds CEO Eric Daniels. Watched over by his chairman, Sir Victor Blanks, Daniels claims ‘an enormously good deal’. Both men fail to spot warning signs of a looming catastrophe: a staggering £10 billion black hole of debt. Now read on. Scotland has been home to many lost causes, and … [Read more...] about How Lloyds swallowed HBOS hook, line and sinker
Lloyds TSB
Life savings lost in HBOS crash – Apocalypse Now: Part 2
People really watched in disbelief – and I do mean watched, because the share price was on the intranet and they could watch it daily, live, every 15 minutes – as they began to lose their savings. HBOS trade union repHBOS could not survive on its own. After Northern Rock, Brown and Darling were reluctant to nationalise another bank, so a private-sector solution seemed the … [Read more...] about Life savings lost in HBOS crash – Apocalypse Now: Part 2