Fred the Shred

Just keeps getting worse for him and his legacy:

Credit Suisse, the investment bank, said yesterday that European banks are exposed to half of Dubai's $80 billion debt pile, with Barclays and Royal Bank of Scotland (RBS), which is 70 per cent owned by the taxpayer, believed to have invested heavily in the region.

Small biccy's compared to the other Arabic states. Wouldn't be an issue but they've been a relatively deep pool of liquidity over the last couple of years (some public, some not).

RBS, particularly, are a very poorly run bank.

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