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    Shredded: Inside RBS, the Bank That Broke Britain (Hardback) By (author) Ian Fraser

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    DescriptionAt its zenith, the Royal Bank of Scotland was the world's biggest bank. It had assets of $3 trillion, employed over 200,000 people, had branches on every high street and was admired and trusted by millions of borrowers and investors. Now the mere mention of its name causes anger and resentment, and its former CEO, Fred Goodwin, is reviled as one of the architects of the worst financial crisis since 1929. In Shredded, Ian Fraser lifts the lid on the catastrophic mistakes that led the bank to the brink of collapse, scrutinizing the role played by RBS's directors who failed to check Goodwin's hubris, the colleagues who were overawed by his despotic leadership style, the politicians who created a regulatory free-for-all in which banks went virtually unsupervised, and the investors who egged Goodwin on. As more and more toxic details emerge about the bank's pre- and post-bailout misconduct, which stretches from the ruination of numerous small businesses in the UK and Ireland to the criminal fiddling of Yen Libor, and from the alleged manipulation of global foreign-exchange markets to the wholesale 'mis-selling' of US mortgage bonds, Ian Fraser examines what the future holds for RBS and whether it can ever regain the public's trust.


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  • Full bibliographic data for Shredded

    Title
    Shredded
    Subtitle
    Inside RBS, the Bank That Broke Britain
    Authors and contributors
    By (author) Ian Fraser
    Physical properties
    Format: Hardback
    Number of pages: 304
    Width: 164 mm
    Height: 236 mm
    Thickness: 50 mm
    Weight: 1,020 g
    Language
    English
    ISBN
    ISBN 13: 9781780271385
    ISBN 10: 1780271387
    Classifications

    Warengruppen-Systematik des deutschen Buchhandels: 17820
    B&T Merchandise Category: GEN
    B&T Book Type: NF
    BIC E4L: ECO
    Nielsen BookScan Product Class 3: S4.5
    BIC geographical qualifier V2: 1DBK
    BIC subject category V2: KFFK
    B&T Modifier: Region of Publication: 03
    B&T Modifier: Subject Development: 01
    LC classification: HF
    B&T General Subject: 180
    Ingram Subject Code: BE
    BIC time period qualifier V2: 3JMC
    Abridged Dewey: 338
    Libri: I-BE
    BIC subject category V2: KCX
    BISAC V2.8: BUS004000, BUS077000, BUS035000
    DC22: 332.1
    BIC subject category V2: 1DBK, 3JMC
    DC23: 338.542
    Thema V1.0: KCX, KFFK
    Thema geographical qualifier V1.0: 1DDU
    Thema time period qualifier V1.0: 3MRBA
    Illustrations note
    illustrations (colour)
    Publisher
    Birlinn General
    Imprint name
    BIRLINN LTD
    Publication date
    28 February 2015
    Publication City/Country
    Edinburgh
    Author Information
    Ian Fraser is an award-winning journalist, commentator and broadcaster whose work has been published by among others The Economist, Financial Times, The Sunday Times, Independent on Sunday, Guardian, Observer, Mail on Sunday, Herald, Sunday Herald, Thomson Reuters, Huffington Post, economia and QFINANCE. He has taught at the University of Stirling, and his BBC documentary, RBS: the Bank That Ran Out of Money, was short-listed for a Bafta. He is a graduate of St Andrews University and lives in Scotland.
    Review quote
    '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'The definitive account of the Royal Bank of Scotland fiasco. It's an engaging, if in some ways infuriating, tale of how self-serving bank executives systematically broke the rules, lent with astonishing recklessness, abused customers and got suckered by Wall Street - before ultimately dumping their mess on the taxpayers. Fraser doesn't just point the finger at Royal's clueless bankers. He also expertly chronicles the role of misguided regulations, captured supervisors and deluded politicians in fuelling this catastrophe' - Yves Smith, founder of Naked Capitalism and author of ECONNED: How Unenlightened Self Interest Undermined Democracy and Corrupted Capitalism 'This book should be posted through the letterbox of every taxpayer in Britain' - David Mellor, former chief secretary to the Treasury and secretary of state for National Heritage 'Ian Fraser has spotted stories, uncovered scandals and written about them in a detailed and accessible way that leaves many other financial journalists in the dust' - Eamonn O'Neill, director of the MSc course in investigative journalism at the University of Strathclyde 'Take a good look at this book because this is going to be skyrocketing up the bestseller lists around the world ... I get the impression that [Fred Goodwin] becomes like a ghetto pimp, he becomes ghetto rich, you know these pimps, they make a few bucks, and they get the flashy car, and the fancy fur coat, and they strut around the ghetto. So here you have the ghetto of financial fraud, and there's' Fred Goodwin flashing his cash like a pimp, and the rest of the banking industry, they emulate that, they're like 'we want to be pimps too'. [Goodwin was strutting his stuff as he lured all and sundry into RBS's] whorehouse of debt. This is the definitive text, and I'm thinking of Barbarians at the Gate which came out about Kohlberg Kravis Roberts and the RJR Nabisco deal. This is an instant classic' - Max Keiser 'A rattling good read. Hubris, nemesis. Truly shocking' - Paul Rogerson, Law Society Gazette 'A manual for understanding banks, the financial crisis, and also corporate greed and hubris' - P.C. Dettman 'Explosive' - Tom Harper, Independent on Sunday 'The best financial book I've ever read. Thank you, Ian, for a public service' - Simon Bain, The Herald 'Engrossing, fascinating and appalling - a fast-paced and sickeningly-depressing exposition of what can go wrong when corporate governance fails' - Ruth Bender, Cranfield University 'Not just a book about RBS but about something profound that happened ethically in our country' - Russell Napier, CLSA '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 'Shredded is a monument of painstaking analysis and research into Scotland's greatest financial failure since Darien. As such it serves as a model of the journalist's craft, Zola-esque in its broad and unsparing study of corporate hubris and nemesis and haunting in the questions it leaves in its wake' - Bill Jamieson, The Scotsman 'Shredded is a monumental book, well written, impeccably researched and hard to put down at any point' - Financial Times