Long-delayed report gives official verdict on near collapse of troubled bank and renews focus on behaviour of bankers during 2008 crisisThe bleakest days of the 2008 banking crisis risk being revived on Thursday when a long-awaited report into what went inaccurate at HBOS is expected to put fresh scrutiny on the bank’s former bosses and regulators in the runup to the bank’s near-collapse.
A separate analysis to be issued alongside the 500-page official report will analyse why only one former HBOS executive,Peter Cummings, was formally investigated. Cummings, and who ran the commercial arm,was banned from working in finance and fined £500000 for his role in the events that led to the emergency rescue of the country’s biggest mortgage lender and savings institution.
Continue reading...
Source: theguardian.com