In praise of … Paul Moore
Among the many dishonoured bankers of HBOS, here's one who deserves some praise
The Guardian, Wednesday 10 April 2013 22.04 BST
Among the many dishonoured bankers of HBOS, here's one who deserves some praise. Had it not been for whistleblower Paul Moore, James Crosby would probably still have his knighthood and the surrendered third of his pension; and he almost certainly would not have stepped down in 2009 as deputy head of the Financial Services Authority. Mr Moore was head of risk at HBOS between 2002 and 2004, during which time his queries about sales practices earned him expletive-laden threats. Shortly after warning senior directors that the bank was lending a dangerous amount, he was dismissed by Mr Crosby. When HBOS collapsed, he testified to the Treasury select committee and then to the parliamentary commission on banking. On both occasions, his evidence was key. Had there been more alarm-raisers like Mr Moore, and more senior managers willing to listen, HBOS might still be with us, and billions might have been saved.