As a result of the British Government outsourcing its responsibility to supervise the large banks to industry groups and not holding bankers to account, the Royal Bank of Scotland Group plc (ADR)(NYSE:RBS) (LON:RBS) is in danger of failing within ten years, says a new book. Book details lavish spending, irresponsible behavior as government regulators let banks write the rules Shredded: Inside RBS, The Bank That Broke Britain, written by the financial journalist Ian Fraser and recently reviewed by Britian’s Independent newspaper, says the bank has a £100 billion pound financial “black hole” caused by “five broad areas of alleged criminality…
RBS Could Fail In 10 Years Says Book
Mark Melin
Mark Melin is an alternative investment practitioner whose specialty is recognizing the impact of beta market environment on a technical trading strategy. A portfolio and industry consultant, wrote or edited three books including High Performance Managed Futures (Wiley 2010) and The Chicago Board of Trade’s Handbook of Futures and Options (McGraw-Hill 2008) and taught a course at Northwestern University's executive education program.