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Wednesday, April 10, 2013

Crosby Damage Limitation

Sir James Crosby et al are now on a damage limitation exercise, albeit one that is portrayed as being contrition and repentance.

Sir James has asked to have his knighthood removed, and has offered to give up 30% of his £580K per annum pension.

The Telegraph quotes him saying that he was "deeply sorry for what happened at HBOS and the ensuing consequences for former colleagues, shareholders, taxpayers and society in general”.

Andry Hornby, who succeeded Crosby in HBOS in 2006, is under pressure to do something similar.

All very well, maybe but will it be enough to avoid further investigations/retribution?

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