THE Royal Bank of Scotland has become a dirty word to its shareholders, its employees, 27,500 of whom have lost their jobs, its customers and the British taxpayers who funded the £45.5 billion rescue of the bank and have suffered a £25 billion loss.
The report by the Financial Services Authority (FSA) into the bank's failure highlights deficiencies in RBS's management, governance and culture that are obvious with the benefit of hindsight. Nearly four years on from the first intimations of disaster, however, its purpose must be to ensure that the regulatory regime is sufficiently robust to prevent a repeat.
A question of trust in holding banks to account
THE Royal Bank of Scotland has become a dirty word to its shareholders, its employees, 27,500 of whom have lost their jobs, its customers and the British taxpayers who funded the £45.5 billion rescue of the bank and have suffered a £25 billion loss.
The report by the Financial Services Authority (FSA) into the bank's failure highlights deficiencies in RBS's management, governance and culture that are obvious with the benefit of hindsight. Nearly four years on from the first intimations of disaster, however, its purpose must be to ensure that the regulatory regime is sufficiently robust to prevent a repeat.
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Don't show me this again.