The RBS failed entirely because of foolish investments. Funding covered the cracks till it dried up.
Fred the Shred (RBS CEO) invested billions in toxic assets worldwide - his last act was to buy an investment bank full of them.
He still walked away with bonuses, though now the taxpayer paid for his golden parachute.
The RBS failed entirely because of foolish investments. Funding covered the cracks till it dried up.
Fred the Shred (RBS CEO) invested billions in toxic assets worldwide - his last act was to buy an investment bank full of them.
He still walked away with bonuses, though now the taxpayer paid for his golden parachute.