I watched the proceedings of the UK Treasury Committee with HBOS and RBS this morning on Bloomberg UK TV and it was a dismal sight. It had the feel of the Nuremburg trials, honestly. The clip below doesn’t do justice to how tense the atmosphere was.
I will say this: these men from HBOS and RBS ran very aggressive organizations, piling in to all manner of risk at the top of the market. While they dissemble and prevaricate, it is plainly obvious that they did not see the risks in their actions, nor did they want to.
If I find better footage, I will post it.
HBOS Inquired Into Risk Allegations, Ex-Chairman Says – Bloomberg.com
U.K. Bank Executives Apologize for Credit Crisis – Bloomberg.com
RBS Board Could Have Stopped ABN Takeover, Ex-Chairman Says – Bloomberg.com