Summary
THE pusillanimous behaviour of bank boards when faced with swaggering chief executives and bullying governments has been an enduring theme of the credit crunch.
The Treasury Select Committee made this point in its latest report when it essentially blamed the board of old Lloyds TSB (much the same as the board of the new Lloyds Banking Group) for rolling over so easily when bullied into buying Halifax Banking of Scotland.See the full content of this document
Extract
Why Bank Boards Failed Us ; Comment [Edition 2]
Naturally, as a minor league Lloyds TSB investor, I feel particularly enraged at the foolishness of Lloyds TSB's top brass, Sir Victor Blank and Eric Daniels. They navigated cautiously through the bubble years...
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