Tuesday, October 23, 2012

Bank Bonus Lie: Lloyds dashes hopes it may ban annual bonuses for top staff after saying pay will not be reformed in 'foreseeable future'

  • The FSA is unlikely to publish its report into the failure of HBOS until the Summer at the earliest, it emerged yesterday
  • The news is a another blow to both shareholders and taxpayers who have suffered indirectly from the reckless lending of HBOS before the credit crunch
  • Lloyds Banking Group fell to the brink in 2008 after the disastrous takeover of HBOS, receiving a £21bn taxpayer bailout