'The definitive account of degenerate financial capitalism' - Iain Macwhirter, The Herald
For a few brief months in 2007 and 2009, the Royal Bank of Scotland was the largest bank in the world. Then the Edinburgh-based giant - having rapidly grown its footprint to 55 countries and stretched its assets to £2.4 trillion under its hubristic and delinquent former boss Fred Goodwin - crashed to earth.
In Shredded, Ian Fraser explores the series of cataclysmic misjudgments, the toxic internal culture and the 'light touch' regulatory regime that gave rise to RBS/NatWest's near-collapse. He also considers why it became the most expensive bank in the world to bail out and why a culture of impunity was allowed to develop in the banking sector.
This new edition brings the story up to date, chronicling the string of scandals that have come to light since taxpayers rescued RBS and concluding with an evaluation of the attempts of the bank's post-crisis chief executives, Stephen Hester and Ross McEwan, to dismantle Goodwin's disastrous legacy and restore the damaged institutions to health.
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'Shredded is a magnificent book. I regard it as one of the best investigative books of the past decade' - Eamonn O'Neill, BBC Radio Scotland
'Impeccably researched and hard to put down at any point - The author pulls no punches' - Philip Augar, Financial Times
'I don't think I have ever read such a perfect morality tale for our times' - Iona Bain, FT Adviser
'Explosive' - Tom Harper, Independent on Sunday
'A rattling good read. Hubris, nemesis. Truly shocking' - Paul Rogerson, Law Society Gazette
'Combines Greek tragedy with real-life events that have affected us all. It's hard to put down' - Devraj Ray, Mortgage Strategy
'Ian Fraser has produced a genuine page turner' - Alex Marsh, Pieria
'Magisterial - the most detailed catalogue to date of the errors and misdemeanours leading up to RBS's 2008 collapse and the failure - in Fraser's view - to reform the bank in its aftermath' --Colin Donald The Herald
'The best financial book I've ever read. Thank you, Ian, for a public service' --Simon Bain The Herald
'A riveting read' - Joris Luyendijk, The Guardian
'Tumultuous ... profoundly shocking' - Kevin McKenna, The Observer
'The definitive text. I'm thinking of Barbarians at the Gate about Kohlberg Kravis Roberts and RJR Nabisco. An instant classic' --Max Keiser The Keiser Report
Ian Fraser is an award-winning journalist, commentator and broadcaster who writes about business, finance, politics and economics. His work has been published by among others The Sunday Times, The Economist, Financial Times, BBC News, Thomson Reuters, Dow Jones, Daily Mail, Mail on Sunday, Independent on Sunday, the Herald, Sunday Herald, The Scotsman, Accountancy, CA Magazine and Citywire.
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Paperback. Condition: new. Paperback. The Royal Bank of Scotland was once one of the most successful and profitable financial institutions in the world; revered, admired and trusted by millions of savers and investors. A trusted employer for tens of thousands of people, with branches on nearly every high street in the land. Now, the very mention of the bank's name causes fury and resentment, and the former CEO, Fred Goodwin, is regarded by many as the one of the principal culprits of the worst financial crash since 1929.In this book, award-winning financial journalist Ian Fraser reveals how the 'light touch, limited touch' approach to financial regulation of New Labour and the aggressive, confrontational, autocratic and reckless style of Fred Goodwin led to disaster, not just for RBS, but for everyone in the UK.The fall of RBS has been one of the most catastrophic events of the on-going global financial crisis. This book reveals new and never-revealed-before details about how Fred Goodwin brought the biggest company in the world to the very brink of ruin. The fall of RBS has been one of the most catastrophic events of the on-going global financial crisis. This book reveals new and never-revealed-before details about how Fred Goodwin brought the biggest company in the world to the very brink of ruin. Shipping may be from multiple locations in the US or from the UK, depending on stock availability. Seller Inventory # 9781780276045
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