16 of 16 people found the following review helpful
Important addition to understanding of what went wrong at RBS,
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This review is from: Shredded: Inside RBS: The Bank that Broke Britain (Kindle Edition)
Ian Fraser has taken on the difficult task of analysing a complex subject and has done it well, including obtaining information from well informed sources. Whilst the subject makes for dismal reading, when one recognises that it is fact not fiction and that we are all bearing the consequences of the banking crisis still, it is an important subject to be understood and Shredded will make a significant contribution to the understanding for layperson and expert alike. Fraser has marshalled a mass of information to allow the reader to understand the connected nature of misconduct, poor regulation, misguidedness and sheer recklessness that prevailed for more than a decade, with limited understanding, except with hindsight, of the disastrous consequences of inflated values, stretched balance sheets and poor quality business. Sadly, as Fraser points out, there are still unresolved issues in the banking sector, not least reconciling between deposit taking and lending institutions when combined with proprietary trading and risk taking institutions, and one wonders whether the lessons have really been learned. Reading Ian Fraser's excellent book will help those still trying to blame it all on globalisation and forces of nature, rather than human folly and greed, to recognise that markets go up and down but borrowing needs to be repaid regardless or we are all losers, as has been the case with tax payer bailouts to meet the horrific losses of certain banks post 2007, with RBS leading the charge to the bottom!