Sunday, 12 December 2010

What did banks do? It's not clear. What do they pay? They can't say. Why did they fail? It's a secret


Link to the article: The Guardian
The banking collapse is a tale of opacity and confusion. Now even the public report into RBS's collapse is confidential. We need transparency in banking, and we need it now.

By Andrew Clark


Fred the Shred could be at liberty to drive another bank into oblivion. Sir Fred Goodwin, the former boss of Royal Bank of Scotland, has escaped any regulatory penalty over the near collapse of the once mighty Caledonian institution. To universal frustration, the nation's financial watchdog won't tell us why.