A meram for losses in Scotland’s Royal Bank

This report is from the CNBC’s British exchange papers of this week. Every Wednesday, Ian King brings expert concepts about the main personalities that form the most important work stories and news of England. The bulletin will emphasize that the important events established to make other key developments and waves that do not want to miss other basic developments in the UK. As you can see? You can subscribe here.

For more than 30 years, April 22, 2008, April 22, 2008, the Royal Bank of Royal Bank of the Royal Bank of Storch, 12 billion pounds ($ 16 billion) were shot in a few billion pounds.

Sum, in that time, a record for the issue of a record for the issue of the United Kingdom, in the event of the previous autumn, the previous fall, the Dutch loan is followed by ABN AMRO.

This deal was the oldest accountant for the president of RBS, President of the RBS President RBS, President of the RBS President, the President of RBS, who was the leader of the RBS, was the largest name of the RBS (NATWEST) sector in early 2000.

As Deputy CEO George Mathewson, Goodwin won the nickname “Fred Shred” for his price cutting prosperity. Was not a groin purple; In 2001, “They would not win the strength in the wine bar,” said Mathewson himself when the executive bonuses had broken the share bonuses.

This confidence ran right through the RBS. In March 2001, a year after the acquisition of Natwest, Goodwin – usually in Laconic record – other UK banks have accepted the “mercy killings”.

These murders never came to pass, but in the next six years, RBS, British insurers and a direct line, but also 10%, including the US seat chartor, the car dealer Dixon Motors. the magazine.

In April 2007, ABN has launched an offer for AMRO, the last time was agreed with Barclays, Goodwin was the best dog in the Bank of England.

All this right was so dramatically in April 2008. The press conference was held in a hurry at the afternoon at the former London headquarters of the RBS. (The Global Head Office opened in 2005 was a giant campus in Gogarburgh, which was £ 350 million, which was occupied by a psychiatric hospital and occupied by a local psychiatric hospital.

Tom Mckillop, as the chairman of the RBS in 2006, I took my place in the first floor of the building on the first floor of the building in the first floor of the building in the first floor of the building such as Tom Mckillop, as the chairman of the RBS in 2006, thanked for the chairman of the RBS.

It was a super confident figure that we are in the habit.

“He looks like a neat person.”

During the press conference, Mckillop, Goodwin’s will be fired, and the executors of the Board had to solve the questions that he had a “Patse” that did not protest.

“No man is responsible for these events, and does not miss the whole point to look for a sacrificial lamb,” said McKillop.

At my agenda that night, I wrote: “McKillop, especially when the plaque is grilled, it was approached to lose several times.

It was not invested – it was a rescue

Memories of that day, the UK government’s government for the last week has finally sold its shareholder in Natwest (as RBS began in July 2020).

RBS took his money in 2008, his stock price fell more than the right to delete the value of a Fund’s exchange.

In October 7, 2008, McKillop with corporate clients in a hurry, then Chancellor, finally, forced a bunch of Alistair Darling to finally get rid of his work.

As well as documented, the Gordon Brown government has controlled the pump of £ 45.5 billion in 2008 and 2009 to get a share of about 85%. Over the years, government rights, dividends and dividends and distribution sales compared to £ 35 billion and crystallization of about £ 10.5 billion pounds.

This figure, of course, was shown a lot in the media coverage in the UK.

However, most of the interpretation will be lost more than a decade of the government, as well as this, this was an investment that never created a positive return to taxpayers and this rescue.

We could even have a commentator, even RBS / Natwest’s RBS / NATWEST’s RBS / NATWEST in the last 17 years, “said the bank’s failure. During the rescue, RBS’s balance sheet was greater than the British economy.

UK’s taxpayer lost £ 10.5 billion from a 17-year period, of course, is miserable. However, during this period, RBS / Natwest, Directe-Natwest, including Direct Line and US Banking Businesses, including the US Commission’s state assistance, was subject to state assistance rules.

A separate retail bank also tried to carve a retailer, named Europe, in Europe’s pipeline and Glyn brand.

In one of the most sadness of all, in March 2019, the US Private Capital Capital Capital and Advent Benge and Advent BenCress, then the US Fintech firm Fintech was sold more than $ 43 billion and more than the FIS-NATWEST shares.

It is difficult to prevent the conclusion that the European Commission of the European Commission has not been related to government assistance rules, as today, the destruction of the value would be lower.

Several things are probably more important than any damage drawn by taxpayers.

First, it was learned that the classes from the collapse of RBS are properly studied. Many people working in high positions in the UK’s financial services were still at school or college, but the institutional memory of the event remains at least the least strong among the UK regulators.

The main reason for the acquisition of the Hourristy Amro Amro and in a timely manner is not aggravated by the British financial rules, failed because it is not overused. The post-financial-crisis is aimed at reducing prospective regulation, and banks are obliged to increase capital buffers.

Second, under Goodwin’s heirs – Ross McEWAN, Ross McEWAN, Alison Rose and Paul Thwaite – RBS / Natwest, especially in the business banking, especially in business banking, it was re-contributed to a financially strong and highly profitable lender.

The most of the income in the coming years is likely to be handed over to shareholders and shareholders in the form of dividends.

On this basis, some will question the government, how the government is withdrawn by the government withdrawal from the government’s shareholder, why others cannot understand for a little longer.

It would be interesting to hear what readers think about.

– Ian King