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George Osborne unveils a quack cure for RBS


11th November 2015 It was midway between the canon of lamb and the passing of the port that George Osborne rose to his feet. Addressing a room of 350 white-tie wearing bankers, the 44-year-old Chancellor of the Exchequer seemed to have a spring in his step. Just a few weeks earlier, the Tories had won a […]

November 11th, 2015 | Posted in Blog | Read More »

Steve Baker: The government is flying blind on banking


8th November, 2015 In a stark warning to the government, the MP Steve Baker has said we’re flying blind where RBS and the wider banking system are concerned, as accounts prepared using International Financial Reporting Standards (IFRS) cannot be relied upon. In what was the stand-out contribution to last Thursday’s House of Commons debate on RBS and the future […]

November 8th, 2015 | Posted in Blog | Read More »

Classic over-reach as Goodwin boasted about RBS’s immensity

Fred Goodwin

7th November 2015 The FactSheet compiled by RBS’s senior communications executive and deputy chief economist Andrew Wilson in February 2007 pleased his master, the bank’s chief executive, Fred Goodwin, as it put RBS’s financial success in context. But it was also incredibly bombastic and dangerously hubristic Royal Bank of Scotland issued an extraordinary flyer to journalists on the […]

November 7th, 2015 | Posted in Blog | Read More »

Businesses trashed by RBS ‘vampire unit’ refuse to co-operate with FCA appointed sleuths


By Ian Fraser Published: Sunday Herald Date: 4 October 2015 Businesspeople who claim to have been ruined by RBS’s Global Restructuring Group are refusing to co-operate with a firm hired by the Financial Conduct Authority to investigate the scandal, potentially derailing the probe into the bank’s so-called “vampire unit”. The RBS GRG Business Action Group […]

October 4th, 2015 | Posted in Article Library | Read More »

Pressure grows on RBS as victims of restructuring scandal cry foul at “conflicted” advisors

Rod Coffey

By Ian Fraser Published: Sunday Herald Date: 30 August 2015 A former Aberdeen oil firm owner who accuses RBS of “stitching up” his business has criticised the bank for appointing the accountancy firm that handled his firm’s administration to review alleged wrongdoing by RBS’s global restructuring group (GRG). Rod Coffey, former chief executive of Stable […]

August 30th, 2015 | Posted in Article Library | Read More »

RBS lawyers fail in attempt to distance themselves from Fred Goodwin as trial approaches

Fred Goodwin and Tom McKillop. photo: Standard

By Ian Fraser Published: Sunday Herald Date: 2 August 2015 The Royal Bank of Scotland has lost a fight to have its former chief executive, Fred Goodwin, excluded from the coming trial over its ‘misleading’ £12.3 billion rights issue. Sonia Tolaney QC, the bank’s lead barrister, told the High Court in London last week that […]

August 2nd, 2015 | Posted in Article Library | Read More »

Osborne fires starting gun on Royal Bank of Scotland disposal


10th June, 2015 George Osborne has confirmed that the UK government will start selling off its £32bn stake in the Royal Bank of Scotland at a loss, insisting any delay would be bad for the economy, taxpayers and bank. Addressing the annual Mansion House dinner in the City of London, Osborne said: “It’s the right thing […]

June 10th, 2015 | Posted in Blog | Read More »

‘RBS still lacks transparency’ — CNBC Squawk Box interview

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7th June, 2015 In this interview with CNBC’s Squawk Box, recorded in their Fleet Place studios, I said that RBS still hasn’t shrunk enough and that the bank still lacks transparency. In particular I implied it was being somewhat dishonest in its provisioning for future litigation and the cost of past/current misconduct. The interview, which […]

June 7th, 2015 | Posted in Blog | Read More »

British government policy towards RBS leaves much to be desired


7th June, 2015 Afshin Rattansi asked me about who was to blame for the Royal Bank of Scotland’s collapse, whether the 2008-09 bailout was mishandled, the scapegoating of Fred Goodwin by former prime minister Gordon Brown, and whether the government has a vested interest in airbrushing the bank’s crimes and misdemeanours, in view of its […]

June 7th, 2015 | Posted in Blog | Read More »

Lawsuit threatens to spoil Osborne’s RBS share sale celebrations

People walk past a branch of The Royal Bank of Scotland in central London

By Ian Fraser Published: Sunday Herald Date: 7 June 2015 George Osborne’s plan to sell the government’s 80 per cent stake in Royal Bank of Scotland, the expected highlight of this week’s Mansion House speech, looks set to fall short of Treasury expectations as leading investors baulk at buying shares in the state-rescued bank. Sources […]

June 7th, 2015 | Posted in Article Library | Read More »

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