Friday, 27 February 2009

Brown's Cup of Corruption Overflows

Personally brokered by Gordon Brown, with the overthrow of competition laws as part of it, the HBOS Lloyds deal is now vomiting out losses in tens of billions of pounds, and state insurances of toxic loans in hundreds of billions of pounds. Toxic loans, to people who had no realistic expectation of meeting the terms, and often obtained by lies and with holding of information on loan documentation and contracts, of hundreds of billions that need tax-payer funded insurance? The personal severance settlements (called by whatever label you choose to use - leaving agreement, pension, payoff) - are all payable, and have been paid, immediately, regardless of age, never mind merit, for various staff.

And it is emerging now that these payments are not just to the highest, or even just higher level, staff. There are, currently, four named beneficiaries of the failure by Brown and his regime to declare these banks bankrupt: Goodwin, Hornby, Cummings, Cameron. Even the lowest payoff is offensively high. How many other employees of these two banks are receiving hundreds of thousands, if not millions, has yet to be told.

1 comment:

it's either banned or compulsory said...

"often obtained by lies and with holding of information on loan documentation and contracts

Any chance of proceedings against senior employees who knowingly colluded in this ? Or would that mean years fat fees for lawyers defending junior staff " just doing their job " ?