Anti Money Laundering Loan
As part of the BBC’s current series on money (sometimes one wonders why money is given a subheading when it is the most important thing in the modern world) here was the inside story of the rise and fall of The Royal Bank of Scotland. At once both a modern parable and a drama befitting the Greek tragedy treatment.
Rise and fall
A classic tale of pride, hubris, greed and ambition leading to inevitable (at least in hindsight) decline and fall. There were very little new facts in this programme that claimed to have an inside track on the whole fiasco and very little on what RBS should have done, other than they should have bought ABN Amro for less and, in simple terms, been a little less ambitious. The programme’s subtext was that the bank was originally just a small provincial entity and it should have stayed that way.
It was this desire of RBS, and indeed its rival The Bank of Scotland, to break free from the perceived confines of the little country of Scotland and become a player in the world financial market that started the story.
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