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eric pebble

Demise Of Royal Bank Of Scotland: Tv Documentary Broadcast Last Night;

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"The Royal Bank of Scotland was once a famous Scottish institution; a bank with a reputation for prudence. But in October 2008, less than a decade after Fred Goodwin took over as chief executive, it came within hours of collapsing. RBS later posted the biggest loss in UK corporate history - 24 billion pounds - which damaged the bank's reputation for financial prudence and Scotland's image as a global financial centre. Using previously unbroadcast footage of the bank's top executives and interviews with bank insiders, this documentary tells the compelling story of a national catastrophe".. [understatement of the Century... :rolleyes: ]

http://www.bbc.co.uk/iplayer/episode/b01690y5/RBS_Inside_the_Bank_That_Ran_Out_of_Money/

Edited by eric pebble

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"The Royal Bank of Scotland was once a famous Scottish institution; a bank with a reputation for prudence. But in October 2008, less than a decade after Fred Goodwin took over as chief executive, it came within hours of collapsing. RBS later posted the biggest loss in UK corporate history - 24 billion pounds - which damaged the bank's reputation for financial prudence and Scotland's image as a global financial centre. Using previously unbroadcast footage of the bank's top executives and interviews with bank insiders, this documentary tells the compelling story of a national catastrophe".. [understatement of the Century... :rolleyes: ]

http://www.bbc.co.uk/iplayer/episode/b01690y5/RBS_Inside_the_Bank_That_Ran_Out_of_Money/

quite unbelievable that they paid top whack for abn amro (http://www.guardian.co.uk/business/2007/oct/07/money1) . fred even insisted that they go ahead and use RBS reserves to pay for it & to skip "due dilligence" ! :blink:

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quite unbelievable that they paid top whack for abn amro (http://www.guardian....7/oct/07/money1) . fred even insisted that they go ahead and use RBS reserves to pay for it & to skip "due dilligence" ! :blink:

Especially seeing as in 2007, AMN Ambro themselves warned what might happen:

http://www.housepricecrash.co.uk/pdf/abn-amro-overnight-report-13-apr-2007.pdf

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Dark forces at work.

Yesterday Goodwin's predecessor as RBS ceo and Goodwin's Chairman, Sir George Mathewson, was announced as the Chairman of Shawbrook - with an RBS equity stake - tasked with pumping up 'sme' (and BTL) businesses. i.e. using our money and the business model not dissimilar to Bank of Scotland's involvement in equity financing.

On the same day BBC air a program, in Scotland only (!) , with an apology by Goodwin filmed at a shareholders meeting, and presumably distancing Mathewson from the debacle. If he wasn't distance from it how can Cameron/Osborne and the FSA possibly permit Mathewson to go anywhere near any business in the finance sector after what happened and is still happening at RBS?

Mathewson, together with Burt (Barclays) has been arguing that he ought to have been given control of Lloyds/HBOS for the last 3 years too and is constantly arguing they and RBS be broken up and he runs bits of them.

Cameron/Osborne and the FSA are taking the country for complete idiots yet again, and of course yet again, the MSM, the Financial Select Committe and two faced politicians like Clegg and Cable are doing nothing whatsoever about this. Quite the opposite it's clearly government policy dressed up as 'competition'.

Breathtaking in their audacity.

Yesterday's Telegraph article won't load so here's one from the Herald

http://www.heraldscotland.com/mobile/business/corporate-sme/lender-shawbrook-set-to-work-with-scottish-smes-shawbrook-bank-opens-for-business-1.1129777

The bank is backed by the RBS Special Opportunities Fund, managed by the RBS Equity Finance division. RBS itself has a 13% stake while outside investors have the remainder.

RBS Equity Finance is part of RBS’s non-core division which chief executive Stephen Hester is seeking to sell-off or run down as he strives to slim down its balance sheet in the wake of the banking crisis.

At the moment Shawbrook lends and takes deposits from individuals north of the Border but a spokeswoman said that a launch into the Scottish SME market is expected “by the end of the year”.

The spokeswoman emphasised that Shawbrook is not part of the RBS group and has its own banking licence

So who are these 'outside investors' and what is the plan here? It sounds like Mathewson has been granted a new banking licence by the FSA/BoE and at some point the business will be sold by RBS making a nice windfall for whoever the other equity owners are.

At the same time we also have John McFall, who oversaw the failure of the UK banks, as a non-exec director of the consortium trying to buy Northern Rock (he's a former teacher so obviously knows a thing or two about overseeing the board of a bank!)

http://www.guardian.co.uk/politics/2010/jul/11/mcfall-northern-rock-banking

It's beyond words. All the players in this deserve scorn and derision heaped upon them at every opportunity.

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aye aye.

derision or lynching.

Given the outcome of some recent high profile court cases I think one has to chose one's words with care these days. I dare say any form of criticism will be outlawed soon enough. I'd imagine Dave already on the case..........

The Queen herself ought to be ashamed that she allows RBS to continue to be called 'Royal' and she permits Mathewson and Goodwin to remain Knights of the Realm.

By doing so she's fully endorsing them in my opinion. So shame on her too.

Edited by Red Knight

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quite unbelievable that they paid top whack for abn amro (http://www.guardian.co.uk/business/2007/oct/07/money1) . fred even insisted that they go ahead and use RBS reserves to pay for it & to skip "due dilligence" ! :blink:

Due Diligence? Wossat??

RBS partner in this 'coup', Fortis, didn't do much checking either. Besides busting on ABN, it even managed to lose a billion to Madoff.

The taxpayer does need ring-fencing from this lot.

Cameron's feeble excuse that we can't, 'cause they don't in Europe, may be short lived. The German opposition party is now campaigning for the same reform.

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Due Diligence? Wossat??

RBS partner in this 'coup', Fortis, didn't do much checking either. Besides busting on ABN, it even managed to lose a billion to Madoff.

The taxpayer does need ring-fencing from this lot.

Cameron's feeble excuse that we can't, 'cause they don't in Europe, may be short lived. The German opposition party is now campaigning for the same reform.

These gross errors & incompetent acts [or non-acts] are just a few of a myriad of them -- not to mention the gross FRAUD all over the place too.

And we should also NEVER forget the MASSIVE FRAUD that went on at HBOS too............. :angry:

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WOW!!!

I HAVE ONLY NOW WATCHED THE WHOLE PROGRAMME.

---- FIRST HALF HOUR: The story of massive egos building the MASSIVE & FRAUDULENT Castle ........... on SAND:

---- SECOND HALF HOUR: WATCH HOW THE PSYSCHOPATHS LIE, CHEAT - LIE and LIE and LIE.......

KEY MOMENT about 35 minutes in: WHEN "FRED" & HIS GANG [iNCLUDING THAT THICK-AS-PIG-SHIT TW@T "JOHNNY CAMERON"] LIE - AND TRY AND SAY THAT ONLY A "FRACTION" OF THEIR BOOKS CONTAIN "SUB-PRIME" [i.E. LIAR LOANS]..... HA HA HA HA!!!!!

LIARS!

It is simply AMAZING how these people are not in jail - with 30 year sentences........

:angry:

Edited by eric pebble

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"The Royal Bank of Scotland was once a famous Scottish institution; a bank with a reputation for prudence. But in October 2008, less than a decade after Fred Goodwin took over as chief executive, it came within hours of collapsing. RBS later posted the biggest loss in UK corporate history - 24 billion pounds - which damaged the bank's reputation for financial prudence and Scotland's image as a global financial centre. Using previously unbroadcast footage of the bank's top executives and interviews with bank insiders, this documentary tells the compelling story of a national catastrophe".. [understatement of the Century... :rolleyes: ]

http://www.bbc.co.uk/iplayer/episode/b01690y5/RBS_Inside_the_Bank_That_Ran_Out_of_Money/

its just a pity the program is 3 years too late. and its still a story without end. until people like goodwin are prosecuted, the saga wont come to a conclusion. the bad guy cannot be seen to be getting away with it.

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...if these fools had been reading this site from 2004 maybe they would have avoided the stigma ....but no ...they were taken in by the OO property market, greed , and pig ingnorance of anything to do with Banking and the management of risk.....some bystander fool at the end suggested it was a tragedy for Scotland ...huh ...the taxpayers throughout the UK had to bail them out....time he walked outside of his 'village' mentality .......:rolleyes:

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its just a pity the program is 3 years too late.

Several references to a US housing bubble as if it were oh so obvious.

Which it was, I just don't remember the BBC at the time laying it on like this.

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Several references to a US housing bubble as if it were oh so obvious.

Which it was, I just don't remember the BBC at the time laying it on like this.

And it WASN'T just the "US housing bubble" that led to the near WORLD financial collapse...

It was ALL THE BUBBLES - in SPAIN; IN IRELAND; IN BULGARIA; [etc etc.]

AND NOT LEAST -- IN THE UK.

PUT 2 and 2 TOGETHER: READ ALL THE LINKS BELOW: WATCH THE VIDEO [LINK BELOW] OF THE UK LIAR LOAN "SUB-PRIME" MACHINE.....

THIS WAS GOING ON ALL OVER THE WORLD: LIAR LOANS WERE BEING PEDDLED EVERYWHERE - EVERYWHERE --- IN THE USA - IN SPAIN - IN IRELAND - IN THE UK ETC ETC.

LIAR LOANS ARE THE KEY: THEY CALL IT SUB-PRIME - AND SAY IT WAS "IN AMERICA" --- BUT SUB-PRIME WAS/[still is?] GOING ON ALL OVER THE WORLD....

AND "SUB-PRIME" -- OR "LIAR LOANS" - [A BETTER NAME] - WERE WHAT HAS BROUGHT THE WHOLE WESTERN WORLDS' ECONOMIES TO THE VERY BRINK OF TOTAL RUIN.

IT IS AMAZING HOW - STILL -- STILL -- STILL THE MEDIA ALL OVER THE WORLD CANNOT SEE THE ABSOLUTE KEY TO ALL THIS WAS LIAR LOANS...... WHICH WERE BEING ACTIVELY ENCOURAGED ALL ACROSS THE WORLD AS "PROPERTY INVESTMENT" --- EVERY DAY [sTILL!!!!] THERE ARE THE PROPERTY "PORN" PROGRAMMES ON TV - [and the rest of the media] TELLING US THAT EVER-RISING PROPERTY PRICES ARE A "GOOD THING" ----- AND YET -- THEY WERE ARTIFICIALLY RISING IN PRICE THANKS TO LIAR LOANS.......

THEY CALL IT "SUB-PRIME" - AND PEOPLE DON'T FULLY UNDERSTAND THAT "SUB-PRIME" WAS/IS THE LIE-MACHINE - THE WORLD-WIDE LIAR LOAN INDUSTRY - WHICH STEMMED FROM LIES - LIES - LIES -LIES.....

THE "MORTGAGE BACKED SECURITY" WAS THE MACHINE THAT SET UP THE LIAR LOAN INDUSTRY --- WHICH HAS CAUSED NEAR-RUIN ACROSS THE WORLD..... AND IT'S JUST CASUALLY CALLED THE "SUB-PRIME" PROBLEM - WHICH PEOPLE DO NOT UNDERSTAND MEANS LIAR LOANS :angry: :angry:

PEOPLE STILL DON'T GET THIS :angry: :angry: :angry: :angry:

Edited by eric pebble

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...if these fools had been reading this site from 2004 maybe they would have avoided the stigma ....but no ...they were taken in by the OO property market, greed , and pig ingnorance of anything to do with Banking and the management of risk.....some bystander fool at the end suggested it was a tragedy for Scotland ...huh ...the taxpayers throughout the UK had to bail them out....time he walked outside of his 'village' mentality .......:rolleyes:

SPOT ON.... :rolleyes:

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Yup..... WHY was this tv documentary only broadcast in Scotland??? Why? It is difficult to understand..... or...... maybe the BBC GordonBroon Bumburglar VI's have seen to it that the REAL story about 13 years of Nieu Labbia Gross Fraud & Corruption doesn't get out.... :angry:

SPeaking of which....

HBOS was just as bad if not worse....

http://www.ifaonline.co.uk/ifaonline/news/2033682/-hbos-bosses-gbp1bn-fraud-threat-sources

Edited by eric pebble

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Yup..... WHY was this tv documentary only broadcast in Scotland??? Why? It is difficult to understand..... or...... maybe the BBC GordonBroon Bumburglar VI's have seen to it that the REAL story about 13 years of Nieu Labbia Gross Fraud & Corruption doesn't get out.... :angry:

SPeaking of which....

HBOS was just as bad if not worse....

http://www.ifaonline.co.uk/ifaonline/news/2033682/-hbos-bosses-gbp1bn-fraud-threat-sources

It's a propoganda piece aimed at bursting the SNP's plans for Independence, hence it was only shown to the people that matter in that argument - the electorate of Scotland.

There was more of it this morning with some truely childish heckling of the first minister by that cringworthy Bill Turnbull.

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It's a propoganda piece aimed at bursting the SNP's plans for Independence, hence it was only shown to the people that matter in that argument - the electorate of Scotland.

There was more of it this morning with some truely childish heckling of the first minister by that cringworthy Bill Turnbull.

...think the whole of the UK should see it to be aware of the solid piece of ongoing rubbish they bought...the changes too date have not been enough.... :rolleyes:

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..... Note his venture is again set up to focus on 'Scottish sme's'. On stepping down from RBS the plotting Mathewson came out strongly in favour of Scottish Independence and the SNP. He uses the emotion of nationalism to create a fortress but is happy to trample on everyone else.....

mmvj84.jpg

....he was the one who picked the destroyer Fred the Shred....two huge egos ...little commonsense or leadership skills......... :rolleyes:

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Mathewson was one of the main players behind the Scottish independence movement. The Scottish banks successfully used Scottish independendence 'anger' as an excuse to vehemently stop the 2 main Scottish banks from being taken over by their larger English rivals back in the 1980's.

On the back of this Burt, (CEO Bank of Scotland) later turned the tables and launched an audacious takeover move on NatWest which was trumped by Mathewson's RBS. BoS then 'merged' with Halifax to avoid an unfriendly takeover and made sure the Head Office was located in Edinburgh. So suddenly you had managers from relatively small narroww concerns running megabanks with balance sheets very much bigger. BoS for instance leveraged up the Halifax's pretty boring balance sheet and went hell for leather in company, property development and overseas expansion (BoS(Ireland)). RBS - you've heard the story.

I don't know what the 'national' in 'national disaster' refers to. Note it was only screened in Scotland. I would say the greater disaster has to be England's as we bail out the latest Scottish banking folly whilst Burt and Matthewson go round trying to reconstruct a new one out of the ruins of the old, shorn of any debts as we pay the price. Note his venture is again set up to focus on 'Scottish sme's'. On stepping down from RBS the plotting Mathewson came out strongly in favour of Scottish Independence and the SNP. He uses the emotion of nationalism to create a fortress but is happy to trample on everyone else.

EDIT:

http://blogs.telegra...en-independent/

EDIT2 - lol

mmvj84.jpg

i thought that was richard nixon,on the left,for a minute ... :blink:

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Note it was only screened in Scotland.

I can't think of a good excuse for that.

I thnik it's probably just because it was produced locally by BBC Scotland. There's quite a lot of stuff they make which never gets shown UK-wide, probably because it's not of much interest to anyone else.

However, here's a blog page about the programme from one of the people involved in making it: http://www.ianfraser.org/rbs-inside-the-bank-that-ran-out-of-money/ . He says

The film will be broadcast on BBC One Scotland at 9pm on Monday October 17th. If you’re not in Scotland, BBC One Scotland is available on Sky Channel 971, Freesat Channel 960 or Virgin Media Channel 862. You can also watch the programme on BBC iPlayer. I believe that the film will also be broadcast UK-wide later this year but the broadcast date is not yet decided.
Edited by Scunnered

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I thnik it's probably just because it was produced locally by BBC Scotland. There's quite a lot of stuff they make which never gets shown UK-wide, probably because it's not of much interest to anyone else.

However, here's a blog page about the programme from one of the people involved in making it: http://www.ianfraser.org/rbs-inside-the-bank-that-ran-out-of-money/'>http://www.ianfraser.org/rbs-inside-the-bank-that-ran-out-of-money/ . He says

Seriously -- it is WELL worth watching this doc...

It's a bit slow at first - but it gets better in the 2nd half.

Best bit is when, at the AGM, the RBS Board of Directors sit there and LIE LIE LIE LIE LIE throught their teeth.......... AND within a few months THEY ARE BUST.

Check out Ian Fraser's website for v good stuff:

http://www.ianfraser.org/

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...think the whole of the UK should see it to be aware of the solid piece of ongoing rubbish they bought...the changes too date have not been enough.... :rolleyes:

I agree - but aired just a few days before the SNP conference and only to a Scottish audience?

The BBC should learn that propoganda only works when people don't know it's propoganda...

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Seriously -- it is WELL worth watching this doc...

It's a bit slow at first - but it gets better in the 2nd half.

Best bit is when, at the AGM, the RBS Board of Directors sit there and LIE LIE LIE LIE LIE throught their teeth.......... AND within a few months THEY ARE BUST.

Check out Ian Fraser's website for v good stuff:

http://www.ianfraser.org/

...I will be surprised if shareholders don't take action after this screening ...I watched it on iplayer and certainly shareholders throughout the UK need to see it .....the arrogance and basic BS the former Board spouted was amazing.... :rolleyes:

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  • 317 Brexit, House prices and Summer 2020

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      • down 5% +
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