Director of HBOS?

[gulliver1]

Was I hearing things yesterday, when the ex Director of HBOS said he'd had no experience or qualifications in Banking, but he was still employed and payed 60.000 a MONTH as an advisor.

[sandmaster]

When entered banking in 1964 it was comforting to know that nearly all the chief execs had 'come up through the ranks' and had banking qualifications. Some directors did not but they were brought in to widen the knowledge of the board.
However, it became the trend in the 80s to bring in people from outside banking to fill the senior management roles and whereas they quickly increased profits they did not have the background of banking which teaches caution and the need to balance risk. And now we have the consequences of that. Banking is not a glamorous profession and the public as a whole deride the traditional caution of bankers of old, but they would mostly have avoided today's situation.
Banking is also very complicated today and problems arise when the 'controllers' just do not understand what their staff are doing.

[LoftyLottie2]

Sandmaster, I so remember the days when even the banks branch managers were pillars of the community and highly respected. Going to see the bank manager was quite a daunting experience. I lost my respect for banks in the 80's and am sickened to the pit of my stomach by all that is now coming to light.

No gulliver1, you were not hearing things. I was shouting things at the TV when Mr LL arrived yesterday evening just as this was being talked about.

[dot.hawkes]

My local bank manager looks about 15 and talks to me like i am annoying him in some way. he calls himself daniel and you never know if he is the manager or the junior when he answers the phone!

[debbz1969]

Hi Lofty.
I don't even know if my branch has a manager. If so I have no idea of his or her name. There's a customer service manager, a mortgate manager, and lending manager, a savings manager but I'm really not sure if there is a managers manager.
At one time the Branch manager knew his/her customers and you got a motgage on merit and conduct of your account and, quite old-fashion, if you could actually afford the repayments. Now its on a Point scoring basis done by a computer. I really can't see how it all went wrong......MUCH!!!!!!!!

[LoftyLottie2]

Exactly Dot, and they seem to take it in turns to be the Manager.

[LoftyLottie2]

Hi Debbz :o)

I am beginning to feel very old and sound it in all my postings. I have lived through a couple of recessions and will no doubt survive this one, but never in my life have I felt so sickened by the events causing our current problems.

The 80's (and Thatcherism) have a lot to answer for.

[dot.hawkes]

I think it is all caused by the Thatcher years too, because that is when business and commerce, including banking, took over from the honest days graft and left the manufacturing industry in ruins (not like me to be political but i saw it happen)

[debbz1969]

As much as I like you Lofty, I've got to disagree with you on this one. How long are people going to blame Maggie for the current crap. Labour has had one and a half decades to clear up the mess and they have just borrowed and borrowed and borrowed some more. Its about time they took some responsibility for their own mess. Surely there has to become a time when they can no longer blame Mrs T for the problems of the world. That woman had more balls than all of this current lot put together.

[LoftyLottie2]

Yes, me too Dot. I think we have been expecting this for years!

[LoftyLottie2]

Yes she had more balls, I would agree, Debbz, but she was dangerous. I firmly believe, like Dot, that the 80's and the decline of manufacturing and worship of money and the 'me, me, me' culture took over.

I don't like this present Government and don't think they have tackled the problems, and there are far more issues that have contributed, but the 80's were the beginning of the end!!

[debbz1969]

But the 80's was 20+ years ago. We had a recession in the 80's. If it was that obvious that something like this was going to happen WHY hasn't the government done something to stop it? They've had long enough. Or do you think they let it happen so they could sit back and say 'I told you so'? Either way it is gross incompetance.

[LoftyLottie2]

Yes, I would agree it is gross incompetence and weak Government from the 80's onward, but still think the 80's started it, so yes I think the Thatcherism is to blame, even though it was 20+ years ago.

Don't get me wrong, I am not defending the present Government.

[sqad617]

lottie....unfortunately the world has change over the past 20-30 yrs. Like you I had a bank manager whom I kne personally, his claim to fame was that he had visited every county cricket ground in the country. If you wanted to borrow money, you went to one of the main banks, if you wanted a mortgage you went to a buiding society. The things changed, the building societies then started competing with the banks for costumers and competition then started and all that entailed. Banks were lending 100-125% motrgages....nobody complained, credit cards and loans were 0% interest.....nobody moaned. Money was dished out with little or no collateral.......nobody moaned....the party was in full swing....nobody moaned.

Now it has gone pear shaped, we need someone to blame....we are ALL to blame.

The guy that is being paid �60,000 a month to sort out a mess that he created is scandalous.........everyone is moaning, but nobody is stopping him.

[LoftyLottie2]

I am not to blame, Squaddy :o(.

[sqad617]

lottie....LOL LOL