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Clydesdale’s claims to be a prudent lender ring hollow

In Article Library by Ian Fraser2 Comments

By Ian Fraser Published: Sunday Herald Date: 12 February 2012 From the perspective of its head office in Melbourne’s Bourke Street, National Australia Bank’s UK subsidiaries Clydesdale Bank and Yorkshire Bank are looking increasingly like dead weights at the moment. The Australian economy, where the Victoria-based bank has the bulk of …

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Deloitte and the demise of RBS

In Article Library by Ian Fraser1 Comment

By Ian Fraser Published: Sunday Herald Date: 18 December 2011 One of Fred Goodwin’s first acts on being appointed chief executive of the Royal Bank of Scotland on March 6, 2000 was to sack PWC as auditors and to wheel in his ‘alma mater’, Deloitte & Touche. Ex-insiders suggest this …

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RBS: Inside the Bank That Ran Out of Money

In Blog by Ian Fraser1 Comment

21 November 2011 A documentary on which I worked as senior researcher and lead consultant is to be shown on BBC2 nationally on December 5th. The one-hour BBC film charts the rise and fall of the Royal Bank of Scotland, starting with its £21bn acquisition of NatWest in February 2000 …

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RBS: Inside the Bank That Ran Out of Money

In Blog by Ian Fraser3 Comments

16 October 2011 A one-hour documentary on which I’ve been working, RBS: Inside the Bank That Ran Out of Money airs on BBC One Scotland tomorrow. The film should be networked across the UK before the end of this year. The investigative documentary charts the rise and fall of Royal Bank of …

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RBS executives seem to think they’re above the law

In Blog by Ian Fraser2 Comments

16 December 2010 As they scramble to shore up their balance sheets, Britain’s banks are treating some of their corporate and small and medium-sized business customers with barely disguised contempt. A tactic commonly used once they’ve reneged on pre-crisis lending agreements and decided to recover what they can from a …

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Smooth criminals?

In Blog by Ian Fraser4 Comments

15 October 2009 Despite their carefully choreographed performance at the Treasury Select Committee in February the “unfab four” (the chairmen and chief executives of RBS and HBOS at the time they went belly up) didn’t actually apologize or display any contrition for anything they had done. According to new research …

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How UKFI lost its nukes

In Blog by Ian Fraser2 Comments

6 October 2009 Does anyone know why Gordon Brown’s government created United Kingdom Financial Investments as a hands-off organisation with zero interest in pushing for real change at the two basket-case Scottish banks it owns? Why UKFI has done nothing to root out the corruption that became endemic at Bank …

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God’s banker on greed, globalisation and Goodwin

In Blog by Ian Fraser0 Comments

28 June 2009 Stephen Green, chairman of HSBC, recently had lunch with Lionel Barber, editor of the Financial Times, in the Pont de la Tour restaurant overlooking the Thames — and Barber has written an account of the repast in the Weekend FT. Green, who was ordained as an Anglican …

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Fred now more valuable than Britney Spears

In Blog by Ian Fraser0 Comments

23 March 2009 The paparazzi have a new target. Yes it’s the panto-villain of the credit crunch, Sir Fred Goodwin. According to a report published in today’s Guardian (Rich Pickings) Sir Fred Goodwin is now worth more than Britney Spears and about as much as Brad Pitt and Angelina Jolie …