Customer Review

4 of 4 people found the following review helpful
5.0 out of 5 stars APPALLING CORPORATE GOVERNANCE, 14 July 2014
Verified Purchase(What is this?)
This review is from: Shredded: Inside RBS, the Bank That Broke Britain (Hardcover)
Experienced financial journalist Ian Fraser, writes the definitive account of the turbulent expansion of The Royal Bank of Scotland (RBS) under Fred Goodwin and calamitous, if not inevitable collapse into bankruptcy saved only by a huge dollop of tax payers cash.

Most will be aware of the RBS problems in the latter part of the first decade of the 21st century, the eye-wateringly costly public bailout, and the subsequent outing and vilification of Fred 'The Shred', but few I guess will be cognizant of the frightening and highly irresponsible manner one man was allowed to run riot with a large concerns financial stability, conducting a mindless, ego-charged, fear dominated policy that was guaranteed without any doubt whatsoever to end in RBS's ruination.

Goodwin's negligent governance is to a large extent beside the point as he should have been stopped in his tracks when he embarked on his crazy run. He was surrounded by very high paid executives, a Chairman and Board of Directors, a phalanx of Accountants, Auditors, Lawyers, umpteen Regulatory Bodies, all of whom must have been struck blind and deaf for not pulling him up and stopping the lunacy, because that is what is was, an aberration that should never have been allowed to get going, let alone gain momentum. It is inconceivable that not one single person has been criminally charged let alone sent to prison for allowing this conduct to fester and grow within RBS to the extent of nearly bringing about a falling apart of the entire banking system leading to catastrophic consequences with much deprivation on the whole economy.

Until governance of a company is very strictly defined, monitored independently, and encapsulated in legislation with serious consequences both in terms of loss of freedom and severe personal financial penalties, then as sure as eggs are eggs, the RBS calamity will happen again, and again.

Ian Fraser has written a lengthy tome, absolutely brilliantly researched, which is easy to absorb, difficult to put down, highly informative, but at the same time exposes issues which are extremely worrying.

A very good book.
Help other customers find the most helpful reviews 
Was this review helpful to you? Yes No

Be the first person to comment on this review.

[Add comment]
Post a comment
To insert a product link use the format: [[ASIN:ASIN product-title]] (What's this?)
Amazon will display this name with all your submissions, including reviews and discussion posts. (Learn more)
Name:
Badge:
This badge will be assigned to you and will appear along with your name.
There was an error. Please try again.
Please see the full guidelines ">here.

Official Comment

As a representative of this product you can post one Official Comment on this review. It will appear immediately below the review wherever it is displayed.   Learn more
The following name and badge will be shown with this comment:
 (edit name)
After clicking on the Post button you will be asked to create your public name, which will be shown with all your contributions.

Is this your product?

If you are the author, artist, manufacturer or an official representative of this product, you can post an Official Comment on this review. It will appear immediately below the review wherever it is displayed.  Learn more
Otherwise, you can still post a regular comment on this review.

Is this your product?

If you are the author, artist, manufacturer or an official representative of this product, you can post an Official Comment on this review. It will appear immediately below the review wherever it is displayed.   Learn more
 
System timed out

We were unable to verify whether you represent the product. Please try again later, or retry now. Otherwise you can post a regular comment.

Since you previously posted an Official Comment, this comment will appear in the comment section below. You also have the option to edit your Official Comment.   Learn more
The maximum number of Official Comments have been posted. This comment will appear in the comment section below.   Learn more
Prompts for sign-in
 


Review Details

Item

4.5 out of 5 stars (64 customer reviews)
5 star:
 (47)
4 star:
 (10)
3 star:
 (2)
2 star:
 (4)
1 star:
 (1)
 
 
 
£25.00 £17.00
Add to basket Add to wishlist
Reviewer


Location: TEDDY B

Top Reviewer Ranking: 251