• 'Total f****** garbage': RBS bankers joked about destroying the US housing market before 2008

    1 month ago - By Chron

    REUTERS/Russell Cheyne
    Emails released by the US Department of Justice show RBS bankers joking about destroying the housing market before the 2008 crash.
    RBS's chief credit officer described the products he was selling to investors as "total f****** garbage" loans with "fraud all random."
    The DOJ said the bank made "false and misleading representations" to sell more mortgage-backed securities, adding that senior executives "showed little regard for their misconduct and, internally, made light of it."
    RBS paid $4.9 billion earlier this year to settle the investigation.
    Read more ...

     

  • 'Total f****** garbage': RBS bankers joked about destroying the US housing market before 2008

    'Total f****** garbage': RBS bankers joked about destroying the US housing market before 2008

    1 month ago - By Business Insider

    Emails released by the US Department of Justice show RBS bankers joking about destroying the housing market before the 2008 crash.
    RBS's chief credit officer described the products he was selling to investors as "total f****** garbage" loans with "fraud all random."
    The DOJ said the bank made "false and misleading representations" to sell more mortgage-backed securities, adding that senior executives "showed little regard for their misconduct and, internally, made light of it."
    RBS paid $4.9 billion earlier this year to settle the investigation.
    LONDON - Royal Bank of Scotland bankers...
    Read more ...

     

  • 'Total f****** garbage': RBS bankers joked about destroying the US housing market before 2008

    'Total f****** garbage': RBS bankers joked about destroying the US housing market before 2008

    1 month ago - By Business Insider

    Emails released by the US Department of Justice show RBS bankers joking about destroying the housing market before the 2008 crash.
    RBS's chief credit officer described the products he was selling to investors as "total f****** garbage" loans with "fraud all random."
    The DOJ said the bank made "false and misleading representations" to sell more mortgage-backed securities, adding that senior executives "showed little regard for their misconduct and, internally, made light of it."
    RBS paid $4.9 billion earlier this year to settle the investigation.
    LONDON - Royal Bank of Scotland bankers...
    Read more ...