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📖 TTF’S BOOK OF THE WEEK: “Making it happen: Fred Goodwin, RBS and the men who blew up the British economy" by @iainmartin1
When RBS collapsed and had to be bailed out by the taxpayer in the financial crisis of October 2008 it played a leading role in tipping Britain into its deepest economic downturn in seven decades.
The economy shrank, bank lending froze, and hundreds of thousands lost their jobs. Living standards are still falling and Britons will be paying higher taxes for decades to pay the clean-up bill. How on earth had a small Scottish bank grown so quickly to become a global financial giant that could do such immense damage when it collapsed?
Based on over 80 interviews and with access to diaries and papers kept by those at the heart of the meltdown, this is the definitive account of the RBS disaster which still casts a shadow over our economy.
In Making It Happen, senior executives, board members, Treasury insiders and regulators reveal how the bank's mania for expansion led it to take enormous risks its leaders didn't understand. From the birth of the Royal Bank in 18th century Scotland, to the manic expansion under Fred Goodwin in the middle of a mad boom and culminating in the epoch-defining collapse, Making It Happen is the full, extraordinary story.
You can buy the book on Amazon here:
https://t.co/4lwIkFgNq2
@JamesJ25260@MConnollyittm@Ian_Fraser@APPGbanking In all cases - included & excluded from the scheme - the banks committed the fraudulent concealment of IRHP Margin Accounting from the SME!
All SMEs were then subjected to additional multiple frauds by the bank, by HM Treasury & the Regulator who covered it all up! @stevemiddi1
https://t.co/ic6pHpGlfD
Is simple it’s called securities fraud as the price will bucket 90% from here due to undisclosed liabilities. 2008 the sequel @hmtreasury cannot offload junk stock to public you got away without so far “NO MORE” selling @efgbricklayer@TransparencyTF
Report into interest rate swaps scandal ‘watered down’ after pressure from @TheFCA
https://t.co/ais1paYl8c
A few things come to mind in this @jameshurley
Independent, Regulator, Collusion!
Great peice 👍
Indeed inhouse solicitors @NatWestGroup
aided by Steven Mills partner @TLTLLP
pervert the course of justice documents drafted & signed by @TLTLLP on behalf of @NatWestGroup
to cover up fraud by its staff prove the crime coverd up by @sra_solicitors all doc's available to view.
Inhouse solicitors @NatWestGroup aided by Steven Mills partner @TLTLLP
pervert the course of justice documents drafted & signed by @TLTLLP on behalf of @NatWestGroup to cover up fraud by its staff prove the crime coverd up by
@sra_solicitors . All documents available to view.
Dame Alison Rose presided over a toxic culture at NatWest/RBS, dragged its name through the mud, breached FCA rules and gave a partial briefing to the Beeb. She should be stripped of her £11 million “golden goodbye” writes @Nigel_Farage
https://t.co/nrwzMnyCQQ
The NatWest/RBS board should use its discretion to withhold as much as it can of disgraced former CEO Dame Alison Rose’s £11 million “golden goodbye”. https://t.co/fzH5B0bbtR
@TheFCA say they are reveiwing @NatWestGroup policies & procedures
https://t.co/eHEJw1y8TB
Here's one from 2011
@carolvorders@CityAM
The bank send out victory emails when the siezed its customer assets
@HowardJDavies hang yer head in shame
A SORRY MESS AT @NatWestGroup@CityAM
A sorry chairman too who supported her & probably sanctioned @traverssmith to try to clear Rose
https://t.co/Y1y6eaco0R
Former @NatWestGroup boss who resigned after the @Nigel_Farage debanking scandal 'is set to lose her bonus'
Alison Rose was given £5.65million worth of shares in the bank
https://t.co/GxHJRBzPYa
“Scammer [Gerry Metcalfe] was due a large financial compensation award but Official Receiver worked with partners to ensure funds were used to repay his victims.” @hmtreasury press release
https://t.co/qG37GEXMCT
Astonishing story. Gerry Metcalfe was made bankrupt in 2013 and in 2017 jailed for six years for fraud. Recently the Official Receiver, in charge of his bankruptcy, learnt that he had received £3.75 million compensation from the HBOS bank scandal. https://t.co/iLboQBTC3Z