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Fascinating Insight Into Banking - RBS Inside The Bank That Ran Out Of Money
reweird
Posts: 281 Forumite
Well worth a watch if you have a spare hour. And clearly illustrates how sub-prime came from and only belongs in America. http://www.bbc.co.uk/iplayer/episode/b01690y5/RBS_Inside_the_Bank_That_Ran_Out_of_Money/
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Thump.....0
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Wake me when its over,0
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Thanks reweird, I hadn't seen it and didn't know it was airing, so glad you pointed it out as would have missed otherwise. It's interesting to see everything put together as a timeline.
I still can't believe, however, that no action was taken against the directors for their "due diligence light" on ABN Amro. To think that because they did the same with Nat West (and got away with it IMO) that they thought could do the same again is shockingly naive if not negligent.Please stay safe in the sun and learn the A-E of melanoma: A = asymmetry, B = irregular borders, C= different colours, D= diameter, larger than 6mm, E = evolving, is your mole changing? Most moles are not cancerous, any doubts, please check next time you visit your GP.
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Interesting documentary, and just confirms my reasoning for not investing in banks. They are so complex that an ordinary investor has no chance of really understanding what they're dealing with and what kind of losses they're exposed to.Faith, hope, charity, these three; but the greatest of these is charity.0
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Bumping...0
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Too late, someone has already started a second threadI think....0
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Meh, didn't see this one.
But yes, great documentary. Just confirms what we already knew.
UK mortgage lending had nothing to do with RBS failing. Even their US operations were quite conservative, by American standards.
It was the ABN Amro takeover that sank it. Such a tragedy, and so needless.
They used their 27 billion in cash reserves to buy ABN, and as it turns out total group losses from the GFC were only 21 billion.
Had it not been for that one deal, they'd have survived.“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0 -
HAMISH_MCTAVISH wrote: »Meh, didn't see this one.
But yes, great documentary. Just confirms what we already knew.
UK mortgage lending had nothing to do with RBS failing. Even their US operations were quite conservative, by American standards.
It was the ABN Amro takeover that sank it. Such a tragedy, and so needless.
They used their 27 billion in cash reserves to buy ABN, and as it turns out total group losses from the GFC were only 21 billion.
Had it not been for that one deal, they'd have survived.
Nice one for ruining the ending hamish, i aint had chance to watch it yet.0
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