Accountants Professional Liability
Lloyds HBOS takeover, Am I missing something?
http://news.sky.com/skynews/Home/Business/Banking-Losses-The-Lloyds-Banking-Group-Which-Includes-HBOS-Unveils-Huge-Losses-For-2008/Article/200902415230778?lpos=Business_Carousel_Region_0&lid=ARTICLE_15230778_Banking_Losses%3A_The_Lloyds_Banking_Group_Which_Includes_HBOS_Unveils_Huge_Losses_For_2008
Am I missing something here, I have been involved in the purchase and sale of businesses in my professional life and while every sale is obviously different there is one constant factor
And that is you examine the books closely before you buy, invest in any business. I would have thought Lloyds could have come up with an accountant or two to go over the books, liabilities, debtors, creditors, projections ect
Your opinions please
Yeah I agree – you maybe slightly out in your assessment especially as it is a very large company – but several billion out?
The margin of error was more than 30% – if I was a Lloyds shareholder and was told by the board that it was a sound investment I would be consulting a solicitor and I have a feeling that may just be happening. They have lost billions of the value of their shares.
Mind you I dont think bankers can use either a calculator or an excel spreadsheet – RBS lost £20 billion buying a dutch bank!!!!
And we trust these clowns with our money
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