In the end, this led to a £20 billion bailout of Lloyds Banking Group, funded by the taxpayer. "We continue to focus our efforts on rebuilding the group for the benefit of our customers, employees and shareholders," its spokesperson said. Its report criticised the now-defunct City regulator the Financial Services Authority (FSA), saying the watchdog appeared "to have taken no steps to establish whether the former leaders of HBOS are fit and proper persons to hold the approved persons status elsewhere in the UK financial sector". April 2008 The bank launches a £4bn cash call to bolster its capital. Read about our approach to external linking. Its losses of £46bn included losses of £25bn in its corporate division, and £14.5bn in Australia and Ireland. Scottish Mortgage's Tom Slater on how the growth star investments, 'It's a vast area of change': We meet a food fund manager. It warns these risks must be 'managed and mitigated'. 2007: Sir James Crosby is appointed to the role of deputy chairman of the FSA. It was also confirmed that ex-bosses will escape fines because regulators failed to act in the first place. The comments below have been moderated in advance. South Dakota AG Jason Ravnsborg is branded a 'coward' who is bent on 'saving his own a**' by the family of the man he ran over and killed - after claiming he struck a deer, LA deputy is seen bashing a BLM protester with a riot shield and hundreds occupy Brooklyn Bridge as demonstrators take to the streets across the nation for a third night of Breonna Taylor protests, Governor DeSantis reopens Florida restaurants and bars at FULL CAPACITY after decline in COVID infections and ends fines for not wearing a face mask, Louisville police major is relieved of command after she called BLM a bunch of 'punks' who 'live with their parents' in an email sent to colleagues, FDA issues 'Benadryl Challenge' warning as it investigates reports of teen deaths and injuries linked to a TikTok craze and urges the social media site to remove videos, NY AG Letitia James says the NYPD should STOP making routine traffic stops following investigation into cop-involved killing of a Bronx motorist, Sarah Sanders says liberals should be 'applauding' Judge Amy Coney Barrett as Trump's 'pick' for SCOTUS - and not 'denigrating her with bigoted attacks' - as president prepares to officially nominate her at 5pm today, Joe Lieberman says it's 'un-American' to attack Amy Coney Barrett's Catholic faith as GOP and Dems prepare for chaotic confirmation hearing of Trump's 'pick' that could put Kavanaugh's in the shade, How Supreme Court contender Barbara Lagoa, pictured as a baby-faced teen in her Florida high school yearbook trying on makeup and fooling around with fellow students, was the pride of her now ailing Cuban refugee parents, Supreme Court frontrunner Amy Coney Barrett hid her membership of religious group that inspired hit TV show The Handmaid's Tale and teaches wives have to obey their husbands in everything - even voting, Judge Amy Coney Barrett wasn't 'at her best' during interview with Donald Trump because she was wearing sunglasses due to conjunctivitis - but remains leading contender for Supreme Court nomination, Female drill instructors are heading to all-male Marines boot camp in San Diego as the service moves to make entry-level training coed a 'top priority', ‘Joe is training for a knife fight when Trump is bringing an 'Uzi': Dems’ fears as President 'plans to go for the jugular' during debates over son Hunter's Ukraine links, Trump and Cuomo trade barbs after president says New York is welcome to go to the 'END of the vaccine list' after governor said he doesn't trust the FDA, Ex-White House aide Omarosa Manigault Newman tells Michael Cohen's podcast she has secret tapes of Lara Trump 'badmouthing Donald, Melania and Ivanka Trump', Trump mocks 'sleepy Joe' for being 'low energy' and says America needs a leader 'that's gonna work his a** off' after he attends FOUR campaign events in THREE states during whirlwind day.