Should former HBOS bosses be banned?

A new report has called for the men in charge of HBOS at the time of its collapse to be banned from working in financial services in future.
The Banking Standards Commission has called for the heads of HBOS to be banned from future roles in the financial sector.
The Commission has published a report (entitled An Accident Waiting to Happen) on the mistakes that led to HBOS being pushed into a merger with Lloyds, as well as the public money that has been pumped in to keep the bank afloat.
And the report is damning on the role of three men at the top of the organisation: Lord Stevenson, Sir James Crosby and Andy Hornby.
It states: “The primary responsibility for the downfall of HBOS should rest with Sir James Crosby, architect of the strategy that set the course for disaster, with Andy Hornby, who proved unable or unwilling to change course, and Lord Stevenson, who presided over the bank's board from its birth to its death.
“Lord Stevenson, in particular, has shown himself incapable of facing the realities of what placed the bank in jeopardy from that time until now.”
Since the publication of the report, Crosby has resigned from his role as an adviser to private equity firm Bridgepoint.
What do you think? Is this an appropriate punishment? Vote in our poll below and let us know your thoughts in the Comments section.
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[I]...isn't it time we had an alternative political party...[/I] Well, what are you waiting for? Form one. Or are you one of those people who expect someone else to do it for you? Everybody has missed the point. The difficulty here are those four words again: Too Big To Fail. If HBOS, Northern Rock were going bust, they should have been allowed to go bust. What happens in capitalism is that another business would come in and pick up the bits of the failed business that are working. Virgin Money were ready to do that with Northern Rock, and have now acquired this business anyway. As for HBOS, Lloyds TSB were doing well, until Brown turned the screw and talked them into taking over a not-very-well-run business. Now Lloyds TSB are are drowning in the lavatory pan too. It does not matter who gets hurt? Bad businesses have got to be allowed to fail. It is futile and unchristian to start talking about hanging people, hacking their spurs from their heels, taking their pensions away. There is no point in bellyaching about the old boy network running the country. Let me tell you that the old boy network are the only people qualified to run big businesses and countries. You'll just have to suck it up and cope, because this is what you voted for.
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As mentioned, the political elite allowing their millionaire friends to virtually get away with murder is not constrained to any political party. Brown's famous "end of boom and bust" and "42 months of growth" speeches are examples of the reckless behaviour of the previous regime, but their actions have not been replaced by any substantial and sustainable reforms by Comedy Dave and Boy George - the Conmen leading the current regime. And the fact that Clegg and his LibDem mates are not standing up against their idiocy shows that the only people that are "all in it together" are the established political parties! Personally I would hold bankers guilty of treason because they tried to destroy our country by missing selling mortgages and loans, producing the ethereal growth of which Brown boasted, requiring the Government to bail-out the banks and causing a national recession! If not, treat them like drug dealers - since they peddled money like a drug - and seize their ill-gotten gains, their assets, salaries, bonus, golden parachutes and pensions, then throw them in the Tower! (Although the politicians were also high on the money drug, spending more and more during the good times rather than saving for the bad; so much for fixing the roof while the sun was shining...) As for these no-good Eton/Oxbridge/done-nothing politicians, isn't it time we had an alternative political party, filled with educated, intelligent people who have done something other than politics with their lives, and aren't million-heirs, who represent the 99% of people who live in the UK and suffer from the ridiculous economic policies of the politicians? Instead we have the current clowns who protect and serve the top 1% - their millionaire mates!
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How come no-one is ranting about the billions wasted on government spending after stupid decisions by Brown, Blair and Prescott. Is it OK when the 'scum' running the country are supposed to be helping the 'working class' ?. The last government took looking after their cronies to new extremes and many of the things people keep demanding are simply not possible under current laws and would not be anywhere in the world.
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10 April 2013