RBS: Whistleblower claims bank hid scale of losses prior to banking crisis to protect banker’s bonuses

Published on International Business Times IBS, by Mark Piggott, Nov 26, 2015.

A former senior risk consultant at scandal-hit Royal Bank of Scotland RBS is reported to be planning to make a number of explosive allegations about deception and greed within the bank’s upper echelons, even as the 2008 financial crisis was underway. Victor Hong, based in the US, is set to appear in court in the UK as part of a major action being taken against the bank by its own shareholders.

Hong – who was working for RBS in Greenwich, Connecticut when he was asked to examine the running of part of the bank- will claim management urged him to keep quiet about huge losses so senior bankers could receive huge bonuses – despite the bank being run into the ground. He will also allege that when he expressed disquiet about the takeover of ABN Amro, which was in an even worse state, he was ignored because Fred “the Shred” Goodwin wanted it to go ahead.

… The British taxpayer had to bail out RBS – briefly the largest bank in the world – to the tune of £32bn in 2008. Recently Chancellor George Osborne sold £2bn of its shareholdings and wants to sell more, so further scandals would be embarrassing for the government.

(full text and related links).


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Aus der Sicht einer Pariserin – Bilbo Calvez, 17.12 min, von wwwKenFMde am 24. Nov 2015 hochgeladen … in Paris geboren und aufgewachsen, lebt und arbeitet aber seit über 30 Jahren in Berlin …;

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die Wahrheit über ISIS, Al-Qaida, die Taliban, TTIP, die EU und Russland – Gregor Gysi, 9.15 min, von World War Three TV am 5. Sept 2015 hochgeladen;

Sahra Wagenknecht über die Politik Merkels in Deutschland, 30.31 min, von Paul Weder am 27. Aug 2015 hochgeladen.

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