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No Endgame For RBS's Woes
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The $15 billion in losses at RBS in 2013 continues the bad news from RBS. It now goes through another restructuring. This time with new CEO Ross McEwan. RBS plans to reduce the seven business lines to three lines, and set medium term cost cutting target of 8 billion pounds. Headcount will go down by 20,000. Risk weighted assets will be cut by 50 billion pounds.
RBS and Lloyd's Banking Group and reckless management.
09/17/2007
Royal Bank of Scotland and Lloyd's banking Group were part of the U.K. bank bailout. This was a case of poor decisions, reckless management and excessive risk taking without attention to possible consequences. Cameron and Osborne of the Conservatives and Mervyn King of the Bank of England voiced criticism of these behaviours that has cost the British taxpayer.
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New York Times 08/02/2013
Past Sins Haunting Royal Bank of Scotland
New York Times 01/27/2014
Legal Costs Set to Put RBS in the Red
Wall Street Journal 01/28/2014
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Royal Bank of Scotland (RBS) performance
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Grouped Articles
Bank Bailout Blues Stall U.K. Recovery
Wall Street Journal 05/14/2013
Wall Street Journal 06/13/2013
New York Times 06/12/2013
Royal Bank of Scotland Names New Chief Executive
New York Times 08/02/2013
RBS Puts Too Much Stock in Its Bad Bank
Wall Street Journal 11/02/2013
RBS to Accelerate Sale of Citizens
Wall Street Journal 11/02/2013
UK Financial Investment Limited, which manages the UK government's stake in bailed out banks including RBS, LLoyds
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Grouped Articles
Wall Street Journal 09/17/2013
Share Sale Marks Comeback for Lloyds and Its CEO
Wall Street Journal 09/18/2013
RBS Puts Too Much Stock in Its Bad Bank
Wall Street Journal 11/02/2013
RBS to Accelerate Sale of Citizens
Wall Street Journal 11/02/2013
The future of Lloyds: Stuff happened
Economist 09/25/2010
RBS Works at Pleasing Master, Clients
Wall Street Journal 02/24/2014
The deep losses and loss of public confidence at RBS bank in Britain
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Linked Articles
Royal Bank of Scotland to Slash Costs as Losses Deepen
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Wall Street Journal 02/28/2014
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