How To Lose Money Bank of Scotland Style

If we thought Fred the Shred and his crew of comedians were a wunch of bankers, this story from the Herald in Scotland is up there with his worst.

The Bank of Scotland loaned £11.2 million to an ex-banker to fund a new stadium for his football club; Dunfermline Athletic. Everybody then went bust leaving Lloyds Bank holding the baby with the gold-plated nappies. Here’s what the article says about the final outcome.

Despite being valued at £11.2m in 2011, the East End Park stadium was sold by administrators KPMG to a fan-led buyout team for just £700,000.

It strikes me, that there has been a bit of hanky-panky here. After all why would a club with average gates of a few thousand want a stadium that holds over eleven thousand? I wonder if Gordon Brown has any links to Dunfermline and its football club!

January 6, 2014 - Posted by AnonW | Finance, Sport, World | Banks, Football, Gordon Brown, Politics, Scotland

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What this blog will eventually be about I do not know.

But it will be about how I’m coping with the loss of my wife and son to cancer in recent years and how I manage with being a coeliac and recovering from a stroke. It will be about travel, sport, engineering, food, art, computers, large projects and London, that are some of the passions that fill my life.

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