Friday, Feb 12, 2010
More scandal from your bank
Times: Lloyds targets sales from £70bn Cummings property empire
This makes me so mad... Peter Cummings was forced to resign from HBOS in disgrace last year, after it was revealed his corporate banking division had made record losses. Now new owner Lloyds is poring over the books. Cummings lent freely to his friends in high places, often with no more than a handshake to seal the deal. Housebuilders and Icelandic businessmen were among the recipients of Cummings largesse. Now many of those companies have gone titsup or are unable to pay. In total Cummings lending was £70billion - much of which will never be repaid.
Lloyds Banking Group is 43% owned by us taxpayers. Poor Cummings only has a £330k/year lifetime pension and £4million villa in the Cota del Sol to console him.
Posted by little professor @ 10:27 PM (355 views) Add Comment
4 Comments
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1. Ndg said...
Look into my eyes, look into my eyes, the eyes, the eyes, not around the eyes, don't look around my eyes, look into my eyes, you're under.
What a con artist.
A few years back he'd have been prosecuted. Happy days.
2. waitingtobuy said...
Bar steward!!!
3. waitingtobuy said...
Not you LP,Cummings
4. Eternal Sceptic said...
Yet another abject failure, leading his company into virtual bankruptcy and now rewarded by wallowing in a perpetual trough of plenty.
Does it not appear to many people in this country that if you lob a brick through a jeweller's window you get jail, heist several million you get a nighthood and perpetual largesse. The home of democracy has turned into ancient Rome with the alien hordes already through the gates.