“Total f*cking garbage”: RBS bankers joked about how bad their loans were prior to the US housing crash

The infamous 2008 housing market crash didn’t take everyone by surprise. Emails from Royal Bank of Scotland that the U.S. Department of Justice recently released include jokes from bankers about ruining the U.S.’ housing market. At one point, the bank’s chief U.S. credit officer described the financial products RBS was selling as “total fucking garbage” with “rampant” and “random” fraud, according to Business Insider. The email and call transcripts were released as part of a […]

Read Full Article >> https://therealdeal.com/2018/08/17/total-fcking-garbage-rbs-bankers-joked-about-how-bad-their-loans-were-prior-to-the-us-housing-crash/

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s