Friday, 9 November 2012

Panorama - Banking Crisis

"What happens after sorry?" During the financial crisis UK banking giant, RBS (Royal Bank of Scotland), revealed the biggest losses in British financial history. The chief of RBS, Fred Goodwin publicly apologised for their part in the banking crisis. Panorama asks "what happens after sorry?" in the wake of significant losses for shareholders, massive job cuts at RBS, and of course the collateral damage to those that RBS did business with. RBS had grown into one of the worlds largest banks through aggressive global expansion via acquisitions (some being smarter than others) and investments and dealing in the US subprime mortgage market. As it turned out the bank had overreached and ultimately got swept up in the global housing and credit bubble... and we all know how that ended. This documentary takes a look at the fallout for RBS and its stakeholders, taking a bit of an Enron type angle in analysing the folly of this financial institution. This is another interesting banking crisis post-mortum documentary See also: RBS - Inside the Bank that Ran Out of Money

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