Santander / RBS Deal Off

ses6jwg

anotherbaldrick wrote: »

Like they did with Alliance Leicester and their customers.:rotfl::rotfl::rotfl:

The IT problems experienced when they migrated the A&L accounts was not even in the same league as the Natwest debacle.

The main issue with A&L integration was problems accessing online banking, not problems accessing any money at all.

innovate

anotherbaldrick wrote: »

Actually it was the Americans , they devised the wheeze of sub-prime loan bonds . Our bankers mistake was being so stupid not to understand what they were and to buy them.

It wasn't the americans that made Fred The Shred go on his manic acquisition spree and do idiotic things such as outbidding Barclays for ABN Amro, all of which significantly contributed to bleeding RBS dry.

Stop blaming all sorts of foreigners. It was a proper home-bred scottish/british megalomaniac who presided over the RBS fall from grace. And that landed all of us with debts that will take generations to pay back.

stclair

It wouldn't surprise me the IT melt down never put Santander right off lol

chambta

innovate wrote: »

It wasn't the americans that made Fred The Shred go on his manic acquisition spree and do idiotic things such as outbidding Barclays for ABN Amro, all of which significantly contributed to bleeding RBS dry.

Stop blaming all sorts of foreigners. It was a proper home-bred scottish/british megalomaniac who presided over the RBS fall from grace. And that landed all of us with debts that will take generations to pay back.

It's pretty clear that it was the ABN Amro business that did for RBS.

anotherbaldrick

innovate wrote: »

It wasn't the americans that made Fred The Shred go on his manic acquisition spree and do idiotic things such as outbidding Barclays for ABN Amro, all of which significantly contributed to bleeding RBS dry.

Stop blaming all sorts of foreigners. It was a proper home-bred scottish/british megalomaniac who presided over the RBS fall from grace. And that landed all of us with debts that will take generations to pay back.

.

Stop being fixated with the fools who bought the scam but look to the fraudsters who perpetrated it, even if they are foreign.

System

RBS bought themselves a pig in a poke - basically a load of bankers ( including Fred The Shred) thinking with their cojones rather than their brains.

1. ABN AMRO sold off it's valuable US arm to Bank of America to attempt to stop being taken over - RBS still bought it.
2. The deal was done for cash rather than shares (like the Barclays merger offer). So when the value of banking shares dropped off a cliff they locked in at top of market.
3. The parts that RBS bought were vastly overvalued (large amount of derivatives, sub prime etc)
4. The banking industry was poorly regulated by FSA / BoE / UK Treasury.

anotherbaldrick wrote: »

.

Stop being fixated with the fools who bought the scam but look to the fraudsters who perpetrated it, even if they are foreign.

pqrdef

anotherbaldrick wrote: »

Actually it was the Americans , they devised the wheeze of sub-prime loan bonds . Our bankers mistake was being so stupid not to understand what they were and to buy them.

They were creating and selling them as well as buying them. Isn't there a court case pending, SEC vs over a dozen banks including RBS and some other British banks?