Published on 01/9/2008

I almost hate to write this article because I can only imagine how the wife and children of former head of Northern Rock must feel. Not only did they watch their husband and father lead a major UK bank down the toilet but at the very same time Applegarth was screwing the economy, Bank f England and Northern Rock customers he was getting a little something on the side from a junior level employee.

Humpf

I almost hate to write this article because I can only imagine how the wife and children of former head of Northern Rock must feel. Not only did they watch their husband and father lead a major UK bank down the toilet but at the very same time Applegarth was screwing the economy, Bank of England and Northern Rock customers he was getting a little something on the side from a junior level employee.

Since there are a number of stories out there already I don’t have any problem saying that the understudy was identified as Amanda Smithson from the Northern Rock buy-to-let division.

You know I’ve had real issues with Northern Rock and their flagrant ignorance of the Banking Code and not treating customers fairly when it comes to Individual Voluntary Arrangements (IVAs) but apparently this same disregard extended into Mr. Applegarth’s compliance with the marital code as well.

So while Adam Applegarth was leading a bank that was rejecting consumers ability to do the right thing and repay their debt through an IVA, a solution that is supported by Insolvency Service, law and regulation, he was jetting off to Washington, DC six times a year for a little rendezvous with his junior level employee.

Now, I’m sure all that Ms. Smithson wanted to do was get ahead in the bank but the apparent coincidence in holiday schedules aroused suspicion.

And if Northern Rock reimbursed Applegarth for these sex trips as a business expense then the consumers that were being so badly treated were in fact subsidizing his extra-marital affair at the same time Northern Rock was failing to treat the very same consumers fairly. And then to make it even more ironic, with the Bank of England bailout, the British people essentially paid for Adam Applegarth to achieve sexual climax.

So I’d like to amend my complaint against Northern Rock and add a failure of Applegarth and the bank under his leadership to not treat his wife fairly, his children fairly, his mistress fairly, his employee fairly, his directors fairly, his customers, the British people and the rest of all the people he screwed, fairly.

While I'm at it I could not help but notice the likeness between Mr. Applegarth and the Conehead's from Saturday Night Live. See what you think.