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Investors wishing to sue RBS over rights issue have until 15 May 2014

Fred Goodwin, Archie Hunter & Tom McKillop. Photo: Evening Standard

April 2nd, 2014 Investors wishing to join the class action lawsuits against the Royal Bank of Scotland over its “misleading” April 2008 rights issue have until Thursday, 15 May 2014 to decide whether to proceed. The cut-off point was laid down by the judge in the case, Mr Justice Hildyard as part of a group […]

April 2nd, 2014 | Posted in Blog | Read More »

Chuka Umunna: PWC’s useful idiot?

Chuka Umunna - banking toady?

January 23rd, 2014 I’ve long wondered how committed the Labour shadow business secretary and MP for Streatham Chuka Umunna really is to UK banking reform. It seems the answer is “not very”. In the furore that followed the publication of the Tomlinson Report on November 25 last year, a report which (accurately, in my view) […]

January 23rd, 2014 | Posted in Blog | Read More »

EADS chief executive Robin Southwell drawn into a hornet’s nest

Robin Southwell

December 20th, 2013 In June and August 2010 I reported on the business relationship between the EADS (UK) chief executive Robin Southwell (pictured right) and David Mills — a “business turnaround” specialist and former NatWest banker who was charged with conspiracy to corrupt, fraudulent trading and money laundering on 8 January 2013. The charges followed […]

December 20th, 2013 | Posted in Blog | Read More »

Snow: ‘If RBS bosses didn’t know what was going on, they should be fired and prosecuted’

Jon Snow

December 17th, 2013 (minor revisions December 18th, 2013) Here’s the Channel 4 News report on the behaviour of RBS and its global restructuring group from Monday 25 November — the day that the Tomlinson Report was published. Jon Snow opened the piece by saying:- “They’re accused of deliberately driving viable small businesses into the ground – in order […]

December 17th, 2013 | Posted in Blog | Read More »

Victoria Chick: ‘The financial system has gone completely off the rails’


December 10th, 2013 This short film, Transforming Finance, features some of my all time financial heroes including John Kay, Andy Haldane, Victoria Chick, Richard Werner, Catherine Howarth and Giles Andrew Where did the finance and banking sector go wrong … and what can we do to fix it? Transforming Finance, a 23-minute documentary film produced […]

December 10th, 2013 | Posted in Blog | Read More »

RBS whistleblower: ‘It was simply outrageous what went on’

Photo:Ceasefire Magazine

December 7th, 2013 A former insider at Royal Bank of Scotland’s Irish subsidiary, Ulster Bank, has shed further light on the alleged systematic abuse of business customers by the bank’s “recovery and restructuring” arm, which includes Global Restructuring Group and West Register. In a candid interview with Ireland’s Sunday Independent the whistleblower – who is reported […]

December 7th, 2013 | Posted in Blog | Read More »

Jenkins: Three outrageous myths bankers have used to kill reform

Jenkins, Robert, FSIP

December 7th, 2013 (minor edits December 8th, 2013) Robert Jenkins, a former member of the Bank of England’s monetary policy committee, says that bankers have successfully convinced policymakers and pundits at both an G20 and a UK level that three outrageous myths are true in order to see off post-crisis regulatory reforms. According to Jenkins, […]

December 7th, 2013 | Posted in Blog | Read More »

Tape recording reveals how RBS bullies small firms

RBS UK Uncut Here to fleece you

November 30th, 2013 [minor edits February 17th, 2014] The recording below gives a fair impression of the bullying methods deployed by RBS and its “restructuring and recovery” division, Global Restructuring Group, to extort money and impose crippling additional costs on its business customers. The critical point here is the main reason that Trihealth is struggling […]

November 30th, 2013 | Posted in Blog | Read More »

The “financial terrorism” of Royal Bank of Scotland


November 27th, 2013 (updated November 28th, 2013) (minor edits December 1st, 2013) Another of the banking scandals I’ve been covering for more than three years is gaining a wider audience, following the publication of the Tomlinson Report on Monday and this morning’s confirmation from the Financial Times that the Serious Fraud Office is “considering” an investigation into the […]

November 27th, 2013 | Posted in Blog | Read More »

Fantastic, amazing, a triumph! The bankers’ view of the FCA redress scheme


October 24th, 2013 By Honestly Banking The banks’ Interest Rate Swaps scam ruined businesses across the UK. Having explained how ‘interest rate swaps’ work and why they were sold in previous posts, we asked the undercover banker Honestly Banking to tell how the banks have managed to get themselves made judge and jury in the processing […]

October 24th, 2013 | Posted in Blog | Read More »

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