It amazes me that no employees of that time who no doubt have been given the boot but gave a sense of responsibility have not come forward and revealed who and what was responsible! !! You are out there somewhere speak up. !!!
that fred the shred lives the life of luxury while thousands of investors lost their life savings....don't anyone tell me that "AIM" is the dangerous side of investing. The law is invariably the friend of the rich and powerful.It`s also an ass... B and B are allowed to go under (cost me £10K) while the rock survives even though it was in a worse position...GRRR
I couldn't work out whether Newchurch might have been being ironic when I first read his/ her post. Probably not, and the regency to the likely behaviour of the Lloyd's board indicated that he probably hadn't been on this board for very long or else he'd have been aware of the long, long experience we have of RBS' volatility. The jump was just one of many, many false dawns for this sp, to which regular posters are unfortunately innured, hence the underwhelming reaction.
Totally agree with Tracker and Timsouth. This was the story of capitalism at its worse and I doubt if RBS has seen the last of litigation both here and across he pond. The fact that 9 years on from the bailout the stench is still there and even McEwans positive words does not hide the fact that government, BOe and FCA were just as culpable as Goodwin and it should have been allowed to sink and those responsible jailed.
Mr McEwan said:"These costs are a stark reminder of what happens to a bank when things go wrong and you lose focus on the customer, as this bank did before the financial crisis."
Not quite the full story, add putting healthy small and medium profit making businesses into your GRG all for bank profit, then stealing the assets and money from those companies leading to bankruptcy and customers selling their homes. Not at all helped by the useless FCA nothing to see hear attitude, and then you ponder why customers have no confidence in you. The compensation GRG train has left the station and you now have a chance to do the right thing and put some meat on your words Mr McEwan.
There is no escape with the world wide web watching.
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