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Thread: RBS Systematically Crushed British Businesses For Profit

  1. Default RBS Systematically Crushed British Businesses For Profit

    from https://www.buzzfeed.com/heidiblake/dash-for-cash

    The Royal Bank of Scotland killed or crippled thousands of businesses during the recession as a result of a deliberate plan to add billions of pounds to its balance sheet, according to a leaked cache of thousands of secret documents.

    The RBS Files – revealed today by BuzzFeed News and BBC Newsnight – lay bare the secret policies under which firms were pushed into the bank’s feared troubled-business unit, Global Restructuring Group (GRG), which chased profits by hitting them with massive fees and fines and by snapping up their assets at rock-bottom prices.
    The internal documents starkly contradict the bank’s public insistence that GRG acted as an “intensive care unit” for ailing firms, tasked with restructuring their loan agreements to “help them back to health”.
    The most relevant literature regarding what happened since September 11, 2001 is George Orwell's "1984".

  2. #2

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    Business as usual I see.
    "I think it would be a good idea." Mahatma Gandhi, when asked what he thought of Western civilization.

    The philosophers have only interpreted the world, in various ways; the point is to change it.
    Karl Marx.

    "Well, he would, wouldn't he?" Mandy Rice-Davies, 1963, replied Ms Rice Davies when the prosecuting counsel pointed out that Lord Astor denied an affair or having even met her.

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