None of the men has been formally punished for their roles leading up to HBOS's failure, despite what the commission described as a "colossal failure of management" and a strategy dating back to 2001 that "sowed the seedsofdisaster".
None of the three former bosses have been formally punished for their roles leading up to HBOS's failure, despite what the commission described as a "colossal failure of management" and a strategy dating back to 2001 that "sowed the seedsofdisaster".
The seedsofdisaster were planted in the 1990s, when Dana, flush with cash that came from selling axles and other parts for pickups and SUVs, went on a spending spree, making at least ten big acquisitions in the U.S. and abroad.