by thefrockdoctrine

Nov 26, 2011

from YouTube Website

A BBC Documentary about the hubris at the heart of The Royal Bank of Scotland (RBS) during the boom. And the ensuing demise under Sir Fred Goodwin.

 

The Royal Bank of Scotland was once a famous Scottish institution; a bank with a reputation for prudence. But in October 2008, less than a decade after Fred Goodwin took over as chief executive, it came within hours of collapsing.

RBS later posted the biggest loss in UK corporate history - 24 billion pounds - which damaged the bank’s reputation for financial prudence and Scotland’s image as a global financial center.

Using previously unbroadcast footage of the bank’s top executives and interviews with bank insiders, this documentary tells the compelling story of a national catastrophe.