Some of the biggest banks in Scotland are threatening to leave if the people vote for independence from Britain. In a move designed to pressure the people of Scotland to stay within the UK, the Royal Bank of Scotland and Lloyds Banking Group have said they will relocate if Scotland votes for independence in an upcoming referendum. The banks have said thousands of jobs will be lost and that it will be more difficult for people in Scotland to get a mortgage.
|By: DSWright Thursday September 11, 2014 5:59 am|
|By: GREYDOG Saturday December 14, 2013 2:38 pm|
Early in the summer of 2012, Bob Diamond was an American banker with a talent for making numbers say what he wanted them to say. He was legit and was sitting in the catbird seat at Barclays Bank UK. He’d made $100 million over the previous six years.
A few weeks later, in early July, the world had flipped. Instead of sitting at his desk at Barclays Diamond was answering questions from a Parliamentary committee investigating LIBOR rate-fixing in 2008. A week after that he was out of work.
|By: David Dayen Friday August 24, 2012 6:49 am|
The Royal Bank of Scotland is not having a good week. Earlier in the week they became the latest to be subject to investigation on the grounds of money laundering. Now they are embroiled in the Libor scandal, with one trader claiming that anyone at RBS had the opportunity to rig the benchmark interest rate.
|By: David Dayen Thursday August 23, 2012 6:00 am|
I think what we’ve learned by now is that every international bank in the world may have violated US anti-money laundering guidelines, specifically when it came to doing business with countries barred by sanctions. Royal Bank of Scotland is only the latest, and you can add it to the growing list of firms we know engaged in this, including Standard Chartered, Wells Fargo, Citi, Deutsche Bank, HSBC, Germany’s Commerzbank, Japan’s Sumitomo Mitsui Financial Group, Holland’s ING Direct and more.
|By: David Dayen Tuesday July 17, 2012 8:30 am|
I thought that, given all the pervasive bank crimes over the last several years, we wouldn’t have a time when the roof appeared to cave in on the financial industry. But I’m getting that feeling today. All of the criminality and venality and greed seems to be coming to a head.