Thursday, Feb 12, 2009
Revealed: Mortgage Lending Played a Part
London Evening News: Let's be honest, Brown is just as much to blame for this disaster
"In the gung-ho real estate boom, when values were soaring, HBOS swept all before it. In just one year, 2002, HBOS loaned £5.5 billion to commercial property alone - more than the entire annual loan book of the more conservative Lloyds TSB". "What the Crosby case reinforces is an overall weakness. Moore was in his rights to complain and history shows he was on the right lines; Crosby should not have bolted a building society and bank together; Cummings went out on a limb; the FSA investigated only so far; the Government and Bank of England sat on their hands".
Posted by alan @ 09:02 PM (243 views) Add Comment
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