13 February 2009

Friday 13th at Lloyds


1. Why did Brown not pick up on HBOS’s risks when he was Chancellor?

2. Why did Lloyds not carry out due diligence on HBOS at the time of the takeover?

3. Would it not have been best to let HBOS fall last October?

4. Did Brown show negligence throwing good money after bad in the panic of last October?

5. Has the regulatory system that Brown set up ever worked?

6. Is Brown’s authority now broken beyond repair?

Full transparency is now called for in what Sir James Crosby was up to at HBOS and what the FSA and Treasury were told or attempted to find out.

Unless the reporting structure was so broken, it is inconceivable that Brown did not know what was going on at HBOS when he was Chancellor.

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