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 Post subject: The HBOS Scandal
PostPosted: Sun Nov 02, 2008 10:07 am 
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Traquair’s latest from the comments sections of the Sunday papers:

I see that British Treasury has already rejected the attempt to create a better deal for Scotland :
"Spowart’s last-ditch grab for HBOS ‘is not taken seriously’"
'But sources close to the Treasury said: “Peter Mandelson passed the deal on Friday. I really don’t think much is going to come of this supposed offer. But if it does, then of course we’ll have to take a look at it.”
Another source said: “We’re not exactly taking this seriously. They don’t have any advisers.”

http://tinyurl.com/5fg9qm

All sounds rather condescending, pompous and completely dismissive. Just how hard have the British Government actually tried to find an alternative deal for Scotland ? The answer would be not only have they not lifted a finger they have rail-roaded a deal which totally shafts Scotland. Anti-competition rules have been swept aside and the Government own Office of Fair Trading's warning against the dire consequences of this deal have been swept aside. It would appear that Brown has another agenda here, what could it be - oh I remember to do anything and everything to save his beloved Union.
So yesterday there were cries of derision from the British Government and the British media that "A FOREIGN bank is interested in buying HBOS"

Well more correctly this should have been stated as a SECOND FOREIGN bank is interested in buying HBOS. The first of course is English based Lloyds which has already been rushed through with unseemly haste as it was supposedly the only alternative. The English bank also got many extra favours from Quisling Brown -

. Firstly their own anti-competition rules were waived which would result in mega bank which will stifle competition particularly in Scotland, hence the need for the anti-competition rules in the first place.
. Secondly the Governments own Office Of Fair Trading then stated it would result in “substantial lessening of competition". But the recently ennobled Mandelson said no problem and ignored their own advice.

http://tinyurl.com/59nwyn

. Thirdly rushed through the massively England dominated House of Commons.
. Fourthly rushed through the massively England dominated House of Lords.
. Fifthly Brown and Darling also both emphasized they would not lift a finger to help Scottish jobs of a 300 year old institution.

On top of all this it is now it is confirmed all power will be assimilated in London the British Borg Capital and consequently massive redundancies will occur in Scotland whilst England gains many more jobs and of course coincidently accrues much more Corporation Tax.

Yes any other alternatives, which supposedly do not exist, should be given full consideration, and potentially more consideration than the British imposed solution being imposed on Scotland. How could any alternatives be any worse than the current shafting that Scotland is getting ?

Union Dividends galore and of course delivered to us courtesy of 'proud' Scots or more likely sycophantic power hungry traitors setting them up for Lordships where they can sit in the British Capital with a pig trough of expenses for life. Of course the Unionist stance will be this is best solution in terms of Britain - funny how the best solution tends to result more often than not in yet more centralization in London.

It looks like Murphy either through complete incompetence or more likely direct orders to scupper the deal from Stalinist Broon have increased the likelihood that yet another Scottish company will be totally assimilated by London.

It is about time we put Scotland's interest first and foremost. Scots are growing wiser that the well bandied about British justification is merely a euphemism for England. In fact Britain & British full stop is little more than an highly over-used euphemism for England.
On other news not reported by the Scottish media.
"British PM seeking billions to boost IMF reserves" "Brown also said Britain wants to attract investment from sovereign wealth funds in the region, just as a deal by Barclays PLC to receive up to $11.8 billion from a trio of Middle Eastern investors — rather than turning for help to the British government — caused controversy in the U.K" "Brown also said he is also keen to seek investment deals for Britain from sovereign wealth funds and has brought Business Secretary Peter Mandelson and more than 20 business executives on the four-day trip."

http://tinyurl.com/5ov8be

Oh the irony Brown has to go begging for a loan from sovereign wealth funds (aka Oil Funds), bet he wishes he had one of these. Now he knows what Scotland feels like having been swindled out of an Oil Fund. "£250 billion of Scotland's oil wealth squandered by the United Kingdom"

http://tinyurl.com/4pywt9

I wonder what the hypocritical Unionists will say now given all of the venom directed at Salmond for seeking funding from the Middle East ? Of course this is Britain and for the British need so all ok this time - talk about two-faced.
Again Scotland On Sunday seems somewhat remiss
in its reporting. "‘Leak’ puts new HBOS rescue deal in jeopardy"
“I don’t think the Government has done us any favours leaking this,” said Mr Spowart.
“It’s a company already in banking and I’d describe it as high-profile with a worldwide presence,” he said. "Unlike Lloyds TSB, the potential bidder doesn’t have a branch network or HQ in the UK. As there would be no duplication of premises or services this could safeguard jobs”, explained Mr Spowart" “My understanding is the HQ would be retained in Edinburgh.”

http://tinyurl.com/6ldsug

"Scots secretary under pressure to resign after leaking HBOS talks"
"Opposition parties accused Murphy of confirming the alternative bid in order to ni=p it in the bud and allow the government to press ahead with its preferred takeover by Lloyds."
"This is the kind of action that can only damage a potential bid"
"The Sunday Herald raised Spowart's concerns with the Scotland Office at 9.30am yesterday. During the six hours it took them to reply, Murphy called Spowart asking for "the heat to be turned off"."

http://tinyurl.com/6nt2s5

Looks like the Scotland Office is continuing with their Quisling agenda and putting British interest above Scottish ones yet again. How much more of this abuse are Scots willing to take ?


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 Post subject: Re: The HBOS Scandal
PostPosted: Sat Nov 29, 2008 10:19 am 
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More from Traquair on the ongoing attempt to destroy HBOS:

"It is seen as the final effort to stop a deal that will put 40,000 jobs at risk"
Well not quite the final effort, but another effort by Scottish patriots to leave no stone unturned in trying to look after Scottish interests. Also another avenue being explored is - "SNP MEP fights HBOS merger"
"An SNP MEP has launched a last-ditch bid to persuade the European Commission to intervene in the takeover of HBOS by Lloyds TSB by claiming that the UK government failed to offer a level playing field to alternative bidders."
http://tinyurl.com/6f8qu6

Whilst true Scottish patriots leave no stone unturned the sycophantic Unionists act like spineless worms whilst barely disguising their glee at the destruction being wrought on the Scottish economy. Their treachery will never be forgiven. Best of luck to all those who are putting every effort in, even at this late stage, to look after Scotland's best interests.
"Wednesday, 12 November: Rumours the Bank of China may bid for HBOS prove unfounded. "
Hmm,the Scotsman appears to be very selective even with their own headlines
"Bank of China walks away from HBOS deal 'after Treasury cold shoulder'"
http://tinyurl.com/6baoz2
"will put 40,000 jobs at risk through £1.5 billion of cuts "

All could be much worse than even that - "Mr Spowart said that the word in the City had been that a merged HBOS would be aiming to make cuts of £3bn, and the implication of that was that 100,000 jobs would be at risk in Scotland, including direct employment and support industries like accountancy and law, in and around Edinburgh."
http://tinyurl.com/5qqrhu

40,000 or 100,000 the only effect on Unionists will be their level of glee especially the Labour comrades amongst them.
"Labour’s glee at the fall of HBOS risks backfiring"
"SCOTTISH LABOURITES at their conference in Manchester last week were practically punching the air at the collapse of HBOS"
http://tinyurl.com/5zlh79

At 40,000 the glee is plain for all to see at 100,000 no doubt the Unionists will be delirious with joy at the massive degree of destruction. Utterly pathetic. In addition to the massive job losses no doubt there will be additional collateral damage. Traditionally corporate HQs will tend to give generously to local causes where they are based. I wonder with everything being moved down to London what types of causes will benefit.
No real need to guess -
"Lloyds TSB set for £80m deal to sponsor London Olympics"
http://tinyurl.com/64hmyu

Apparently even with the London Olympics 250% over budget (£14 billion versus original £4 billion) and the raiding of £184 million from the Scottish lottery fund it is still not enough for the insatiable subsidy junky that is the British capital. No doubt with HBOS assets LLoyds will now be a be able to contribute even more than £80 million to the London Olympics.
http://tinyurl.com/6p43bv
http://tinyurl.com/6pyd43

Union dividends galore, even more reason for the Unionist to rejoice.
I wonder why the HBOS CEO Andy Hornby is so keen to push through this deal.
"HORNBY SNAGS £60K-A-MONTH CONSULTANCY DEAL WITH LLOYDS"
http://tinyurl.com/5op7nj

Perhaps he needed the money ?
Apparently not -
2007 - "Hornby, 39, pockets £3.3m as HBOS chief executive"
http://tinyurl.com/6noz3t

Why is this guy not in jail ? Instead he keeps all of his ill-gotten gains, is the chief advisor pushing through a deal that assimilates/destroys his own company and then he ends up with more ill-gotten gains. But a least comrade Broon will put a stop to this utter greed.
"Gordon Brown has signalled an end to banks' lucrative bonus culture"
http://tinyurl.com/46kdm4

Apparently this does not include Hornby's £60K month nor apparently Broons own Treasury Department.
"Fury as civil servants scoop record bonuses"
"TREASURY officials who oversaw the Northern Rock debacle and the onset of the credit crunch have been rewarded with record bonuses"
http://tinyurl.com/55jcvj

No doubt the treasury officials who have orchestrated the HBOS massacre will be duly rewarded with even larger bonuses for ensuring that HBOS lost it's independence, for which no doubt Brown will gleeful pay extra. Indeed, we are bought and sold for English gold. This whole situation just stinks to high heaven, but the pig pen that is new Labour appears to be immune to the stench. "The creatures outside looked from pig to man, and from man to pig, and from pig to man again: but already it was impossible to say which was which".

Saor Alba


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 Post subject: Re: The HBOS Scandal
PostPosted: Mon Feb 16, 2009 9:53 am 
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More from Traquair:

In terms of the Scottish banks could we have saved them, well it can never be clear, but it is clear much more effort would have gone into trying to save them HBOS is particular. According the Brown and Darling there was absolutely no choice but to have engineer a forced marriage with of HBOS with LLoyds. You can imagine my surprise to read in the Telegraph only yesterday -

"Gordon Brown could have saved HBOS without engineering the merger with Lloyds TSB that has brought the two banks to the brink of disaster, the Government's own financial watchdog has admitted."
http://tinyurl.com/b3xnng

Apparently there was at least another choice, and of course there was yet another with deliberately scuppered potential takeover by Bank of China. The real problem here is that Scottish interests were not and never are first and foremost with Westminster where some artificial British agenda takes precedence each an every time.

Also under an independent Scotland would HBOS have got into this problem in the first place - perhaps not. We could be assured that we would more closely monitored our financial institutions than apparently was done by half a billion pounds a year London based FSA which as so dramatically failed in it's purpose. Failed so much in fact that Brown even appointed Sir James Crosby who reputedly is one of the chief architects of the demise of HBOS, to the board of the FSA. It would also appear that Brown again was well involved here and soon it looks like we will know just how involved Broon was in this when the whistleblower releases some more damming evidence.

"HBOS whistleblower threatens more disclosure-report"
http://tinyurl.com/c69nj7

Could an Independent Scotland have saved or prevent HBOS being annihilated, well nobody can be sure, but at this point it seems unlikely that we could have done any worse than the deplorable situation which has happen under the watch of the British State. Of course some of your Unionista colleagues will pipe up with the ultimate Unionist cringe - No matter how badly Britain does Scotland will always do worse, and no matter how well Britain does Scotland could never do as well. Talking Scotland down is basically what the majority of Unionists appear to do best.

Slàinte mhor a h-uile là a chi 's nach fhaic


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