Unfair but funny April 6, 2013 at 9:34 am

That most authoritative of news sources, the Daily Mash, has drawn their own conclusions from the HBOS report:

A DAMNING report into former bank bosses has raised the question of whether anyone should be allowed to work in finance.

As the banking standards commission suggested three former HBOS directors should be banned from the industry, experts said the men had been greedy and very bad at their jobs, just like absolutely everyone else who does this kind of thing.

Julian Cook, chief economist at Donnelly-McPartlin, said: “Acres of empty office space. You may as well graze sheep at the foot of the Shard.

I think this is a very bad idea. The Shard is tall, and it will block the sheeps’ light, leading to depressed baa-lambs. Grazing sheep at the top of the Shard is a much better idea.

2 Responses to “Unfair but funny”

  1. The whole point of the ‘banking scandal’ is that HBOS was not run by bankers. Crosby was a jumped up insurance salesman, Hornby was a pushy FMCG spiv and Stevenson was a largely clueless figurehead ‘title’ with no banking experience. Over at RBS, Goodwin was an overgrown accountant with delusions of adequacy.

    The tragedy is that a real bank, Lloyds, was run by real bankers, such as Sir Victor Blank and Eric Daniels. Lloyds was grown responsibly – even dully – for decades, and only ran into trouble when Gordon Brown compelled it to take over HBOS. The reputations of Lloyds and its directors have been trashed, because they did not have enough time to go over the HBOS books.

  2. Perfectly fair point Webwrights. One wonders what would have happened to HBOS under a modern resolution regime – whether government would still have pushed for a takeover, or whether the mechanism could indeed handle something the size of HBOS.