Ex-Lloyds Boss Handed Role As Govt Adviser

blogs.news.sky.com...:e2f34e39-afc8-41b2-8d1e-57921f5bf665

A former Lloyds boss who led the bank's disastrous takeover of HBOS, has been handed a new job with the Government. Sir Victor Blank, who emerged as one of the faces of the UK banking crisis after Lloyds' huge state bail-out, is to advise ministers on attracting billions of pounds in new investment into Britain.

Incompetence by the incompetent for the incompetent. This guy was in many ways worse than any of the bankers to come out of the 2008 banking collapse. As Lloyds struggled, but managed, Mr Blank decided it would be a good idea to buy out HBOS 'on the cheap' - the £11bn loss caused in the following months of this decision were testament to the reasons government officials didn't back his re-election as Lloyds chair.

"It is a little ironic that that post should be awarded to him by the same Government that essentially forced him out of Lloyds when UK Financial Investments, Lloyds' biggest shareholder, indicated that it would not support his re-election at the bank's annual meeting."

A little ironic? How about a little insane? Why are we paying this man to bring in revenues from abroad, when his track record shows that he doesn't manage financial decisions very well? It just goes to show that there really is this clique of individuals at the very top of society, and no matter what mistakes you may make, if you're in the clique there's always an opening.

[edit on 1-2-2010 by Pr0t0]