Lifting the lid on RBS
Discussion
For the most part those who populate this forum will not have watched the program last night, I would imagine. If you did nobody would own up to it. And I guess also that most in here will simply say the Fred the Shred was an idiot not indicative in any way shape of from to the rest of us. You may also say the same thing about the RBS Board 2003-2009. But for people like me, obviously not in the banking industry, it was enlightening to see just what a bunch of cretins these people really are/were.
crankedup said:
For the most part those who populate this forum will not have watched the program last night, I would imagine. If you did nobody would own up to it. And I guess also that most in here will simply say the Fred the Shred was an idiot not indicative in any way shape of from to the rest of us. You may also say the same thing about the RBS Board 2003-2009. But for people like me, obviously not in the banking industry, it was enlightening to see just what a bunch of cretins these people really are/were.
Change the record for Jesus Tittyf cking Christ's sake.The New Labia cretins caused it.
crankedup said:
For the most part those who populate this forum will not have watched the program last night, I would imagine. If you did nobody would own up to it. And I guess also that most in here will simply say the Fred the Shred was an idiot not indicative in any way shape of from to the rest of us. You may also say the same thing about the RBS Board 2003-2009. But for people like me, obviously not in the banking industry, it was enlightening to see just what a bunch of cretins these people really are/were.
Well said I'm in the real world too and actually sell real things for a living.I suggest you read this book if you haven't already http://www.amazon.co.uk/Boomerang-The-Meltdown-Tou...
I'm not defending bankers but the whole world went a little crazy for a while...
crankedup said:
For the most part those who populate this forum will not have watched the program last night, I would imagine. If you did nobody would own up to it.
I watched it - so you are wrong (yet again).crankedup said:
And I guess also that most in here will simply say the Fred the Shred was an idiot not indicative in any way shape of from to the rest of us. You may also say the same thing about the RBS Board 2003-2009. But for people like me, obviously not in the banking industry, it was enlightening to see just what a bunch of cretins these people really are/were.
Wrong again. Vast sections of society, as well as the government grossly underestimated future prosperity. Don
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don4l said:
Wrong again. Vast sections of society, as well as the government grossly underestimated future prosperity.
Don
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One poster and counting Don
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You miss the point, surprise surprise. These over bloated cretins that called themselves 'smart' were paid huge amounts of money to take the business forward. They had ample opportunity to head off the worst of a s
t storm coming down the track, as was said in the program. Why didn't they abandon the take over that was to bring them to their knees. Why didn't they carry out due diligence prior to the take over. None of that is rocket science is it. Corporate negligence on a grand scale brought about by a wilful lack of knowledge and understanding of the business coupled with huge arrogance and over blown misplaced confidence is nearer to the truth. Under estimated falling prosperity - get real!Edited by crankedup on Tuesday 6th December 15:24
I thought the programme was terrible. It was incredibly sensational and didn't explain any of the detail as to why RBS got in to trouble or why the directors seemed so oblivious to it.
The HBO produced Too Big To Fail was a far better explanation of the source of the credit crunch. Why can't the BBC make programmes like that?
The HBO produced Too Big To Fail was a far better explanation of the source of the credit crunch. Why can't the BBC make programmes like that?
Goodwin was clear that in his opinion there was no need to carry out Due Diligence on the acquisition of ABN Amro - he coined the phrase 'Due Diligence Light and placed reliance on the fact that Barclays would have carried out such work in support of their proposed merger.
This imho is clear evidence of gross negligence - regardless of any underlying global economic issues.
This imho is clear evidence of gross negligence - regardless of any underlying global economic issues.
crankedup said:
Yup, still waiting for some replies.
Here's one...People might like to go read about Tom McKillop.
By all accounts, and from someone I know who worked with him daily, he was a very good analytical chemist for ICI Pharmaceuticals/Zeneca.
I've mentioned this name on PH before and due to familly 'connections' I'll be a bit careful about what I'll say, however from his Wiki page...
Tom McKillop said:
on February 10, 2009, he admitted to having no qualifications in banking. Like the other retired bankers present, he also apologised for the financial crisis
Make of that what you will.Ali G said:
Goodwin was clear that in his opinion there was no need to carry out Due Diligence on the acquisition of ABN Amro - he coined the phrase 'Due Diligence Light and placed reliance on the fact that Barclays would have carried out such work in support of their proposed merger.
This imho is clear evidence of gross negligence - regardless of any underlying global economic issues.
And Barclays backed out of buying them.......That should have set off alarm bells at RBS.This imho is clear evidence of gross negligence - regardless of any underlying global economic issues.
crankedup said:
I apologise that I started this thread without realising another was in progress.
If you don't mind, we'll close this one and link both ways between the two.Running thread here...
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