Cruel outcome of greed
Published 20/08/2010 | 05:00
NOTHING illustrates the sheer recklessness of bank managements in their squalid scramble to grab as much as they could during the phoney boom more than the plight of hapless Bank of Scotland workers, some of whom face compulsory redundancy and most of whom are being asked to accept the slow and tortuous demise of their banking careers.
How naive were we all when, 10 years ago, customers welcomed Bank of Scotland's arrival on these shores and hoped that it would shake up the uncompetitive personal banking market.
While Bank of Scotland had been lending to Irish businesses since the 1980s, it was only in the past decade that it began chasing retail customers and homebuyers.