Lord Dennis Stevenson (former HBOS and Pearson chair ) sent two rather telling letters to the FSA in 2008. Both were mentioned during Tuesday morning’s session with the Parliamentary Commission on Banking Standards and one of which claimed HBOS was “in as secure a position as it could be” roughly half a year before its collapse.
No “lurking horrors in our business or balance sheet” either.
Oh dear.
Continue reading: Stevenson called “delusional” by others in 2012. Called “knowledgeably and well briefed” by himself in 2008. Go figure.
