Reply to post: Re: RBS?

Royal Bank of Scotland website goes TITSUP*

Mad Mike

Re: RBS?

No, no. Fred Goodwin did it another way. He simply leveraged the bank to a stupid extent and then purchased a load of sub-prime (ABN AMRO). Cue huge losses and writedowns etc.etc. Then, the next lot implemented the cut, lose customers, cut again, loose customers again, cut again cycle.

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