HBOS / Lloyds TSB & Fairness

  tammer 19:42 04 Nov 08

Please see the attached story:

click here

I believe that, although not entirely the responsibility of one individual, HBOS was nearing bankrupcy before Lloyds and the government swooped in to save it.

If a bank clerk became bankrupt, they would be unemployable in financial services for the rest of their career. However, lead a multi-billion pound organisation into insolvency, and you can easily pick up a six or seven figure salary with another financial services company.

Is it just me, or does this seem a little inequitable?

  g0nvs 19:45 04 Nov 08

Nice "work" if you can get it, so the saying goes.

  Forum Editor 23:25 04 Nov 08

It stinks, and I hope the FSA has the courage to do something about it. I'm not an HBOS shareholder but if I was I would certainly be making an almighty fuss.

  DippyGirl 08:21 05 Nov 08

"the FSA has the courage to do something about it" - oxymoron ??

  oresome 18:57 05 Nov 08

The wider issue here is the monopoly position in the UK banking sector that the new group will hold.

Under normal circumstances the takeover/merger would not have been allowed on competition grounds.

The idea was hatched up prior to the massive injection of capital by the UK taxpayer to aid any of the banks that needed it. This merger from that point on, which was little more than a week later, had no justification.

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