Oohhh..Cyclops is angry at the Banks but once again,we get to help them out!!
timesonline.co.ukGordon Brown today said he was "angry" with the Royal Bank of Scotland over a strategy that has left it with potential losses of Â£28 billion, as the Prime Minister defended the Governmentâs second attempt to rescue Britainâs struggling lenders.
Mr Brown said this morning that Britons had a right to be furious at "irresponsible" behaviour which saw RBS spend billions last year acquiring ABN Amro, the Dutch bank which had exposure to US sub-prime mortgages, as well as investing directly in the American home loan market.
âYes, Iâm angry about what happened at the Royal Bank of Scotland," he said.
"Now we know that so much was lost in sub-prime loans in the US and now we know that some of that was related to the purchase of ABN Amro, I think people have a right to be angry that these write-offs are happening and that these write-offs were caused by decisions that were made about international investments that were clearly wrong investments.â .........