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RBS’ nagging property problem

Posted on 18 June 2009

From Forbes: While Royal Bank of Scotland’s former chief executive committed the sins, current CEO Stephen Hester is stuck holding the bag.

Since the start of this year, Fred Goodwin’s replacement has been fixing RBS’ balance sheet after his predecessor oversaw a lending glut, and he sounded a note of regret on Thursday: “We will never lend as much to real estate as we did,” he told the British Property Federation, and said loan losses from commercial property could be higher than expected………Full Article: Source


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