....not anymore, at least over in the UK! Today was a true pardon-fest, with the great (and recently rescued) bankers from RBS and HBOS testifying before a Treasury select committee. Every other sentence seemed to be an apology - although it was always a "collective" one.
However the more interesting revelation is that someone in HBOS (in risk management, believe it or not) raised the alarm about balance sheet risks as early as 2005. After a brief inquiry (or witch hunt, to be more precise), the person in question was duly sacked. The chief executive at the time, who dealt with this minor problem, is now one of the most senior members of the UK financial regulator. Keeping it within the family, clearly.
Amazing - and you thought the SEC had problems!
Posts
Friday links: long term investing
12 hours ago
No comments:
Post a Comment