Tuesday, February 17, 2009

Another Nice Little Earner For Sir James Crosby

Dear oh dear. If you ever wanted to know why Sir James Crosby was unfit to ever be appointed deputy chairman of the FSA, read THIS blog by Paul Waugh. He reveals that Sir James's pensions package from HBOS entitles him to an annual pension of £572,000 per annum. No wonder the bank almost went under.
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12 comments:

  1. Damon From BirminghamFebruary 17, 2009 2:50 pm

    Those figures relate to 2006. Have HBOS only just filed their 2006 numbers? If so I think that raises serious questions!

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  2. MadasafishFebruary 17, 2009 2:53 pm

    It's just a teensy weensy bit difficult to see how he could take that sort of pension and be INDEPENDENT in his role in the FSA.

    Not that there is evidence of anything wrong. But that kind of pension makes one look favourably on your past employer.

    And of course what the FSA needs to do at times is to be horrible to banks..

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  3. Roger ThornhillFebruary 17, 2009 2:57 pm

    I wish people would stop this inane, irresponsible and pandering line suggesting contracts are broken.

    First bonuses and now pensions.

    If the State dislikes it, and it ruddy well should, threaten to dump the shares and mean it.

    Can't? Cost too much? Who's fault is that?

    Crosby? No, it is Darling Brown.

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  4. Trend ShedFebruary 17, 2009 3:06 pm

    I sort of feel sorry for Gordon Brown - these bankers have clearly been running absolute rings around him for 11 years.


    ...... but then you remember Gordon boasting about ending boom and bust and how the UK is best placed for the recession and how he knifed Tony Blair to get the top job - and the sympathy just ebbs away.

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  5. Dick the PrickFebruary 17, 2009 4:08 pm

    And a bus pass at 60 - Lucky boy.

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  6. seebagFebruary 17, 2009 4:09 pm

    I used to work for HBOS. Every month Crosby would appear on our internal propaganda TV channel telling us everything was wonderful. As I contemplate my £1300 per month nett pension, I leave you to imagine how I feel about his £10,000 + per week.

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  7. Dick the PrickFebruary 17, 2009 4:11 pm

    This comment has been removed by the author.

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  8. Dick the PrickFebruary 17, 2009 4:12 pm

    This comment has been removed by the author.

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  9. AnonymousFebruary 17, 2009 6:00 pm

    Speech defying.

    The man should have his assets and title taken away.
    When is there going to be an action against people like him, including Brown?

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  10. David BrownFebruary 17, 2009 8:42 pm

    How did HBOS manage to award Sir James Crosby £572,000 pa pension when their accounts state that pensions accrue based on thirtieths - so he would need 20 years service to get a 2/3rds pension - he only had around 12 years service?

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  11. Rush-is-RightFebruary 18, 2009 8:16 am

    I'm with Cherami (6pm) on this.

    An Act of Attainder should be passed depriving this oaf of his title and accrued pension rights.

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  12. richard hFebruary 18, 2009 9:03 am

    Paul Dacre, editor of the Daily Mail, also has a pension fund of over £10 million, but never seems to mention it while ranting at others.

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