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Lloyds TSB/HBOS - Eric Daniels needs to get his coat and bugger off.

"The merger between Lloyds and HBOS has been described in some quarters as a ‘shotgun wedding’. Lloyds Group Chief Executive Eric Daniels conceded that the merger proceeded swiftly on the basis of relatively little due diligence and that the Government was involved to the extent that it offered to waive the competition rules. We also note that the merger may have prevented the collapse of HBOS with the consequent loss of many thousands of jobs and also avoided the outright nationalisation of the company.

Nevertheless, from the evidence we received, if the merger has had injurious consequences for Lloyds TSB we consider that the responsibility for this lies primarily with the Lloyds Board."

This from the Treasury report on the banking crisis.

Ah so the great fiscal sage Eric throws in his 2p worth, well Eric me laddo the government may be inept but they are hardly alone are they?

Lets take a look at how well you have managed the affairs at Lloyds as of Feb 14th 2008, the share value had nosedived to 61.4p. Less than £1 pound. Compare that with Sept. 1999 when the share price reached £1042.73.

All happened on Eric's watch.

Maybe not your best moment turning the shareprice into a kamazazi pilot.

But that's not all is it Eric, whilst on your watch Lloyds was given a slap across the wrist for sanctions busting.
Details of the illicit transfers came to light on Friday when New York State and federal authorities announced that a large British bank had agreed to pay $350 million to settle accusations that it hadhelped the Iranian banks hide the transactions.

Lloyds ever the one to help out also offered its kindly help to The Sudan, famous for genocide and that bastion of liberalism and tolerance Libya.
A bit of helping out on the jihad er journey. Tsk, don't worry about those laws.

But your happy to lend, just not to pubs

Or maybe the attempts to flog credit cards to kiddies.

Oh and I have a very low opinion of the directors of Lloyds Tsb(a very sweary post).

Mind they are overseen by the piss poor FSA an organisation that as I stated before is incapable of regulating a bowel movement in a toilet.

If we are to reform the banking sector chaps like Eric need booting out the door.

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