Shredded: Inside RBS, the Bank That Broke Britain
By Ian Fraser
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, it was also an 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 one of the principal culprits of the worst financial crash since 1929. In this account, 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 the Royal Bank of Scotland, but for everyone in the United Kingdom. As more toxic secrets are revealed about Libor rate fixing and excessive bonuses, the book looks at the future for the bank and examines its chances of ever regaining the public's trust.
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