Offers an account of the problems and scandals that continue to bedevil the world's banking system some seven years after the credit crunch. This book follows the fortunes and misfortunes of individual banks, from RBS to Lloyds. It exposes instances of mis-selling, money laundering, interest rate fixing and incompetence.
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Bad Banks is a gripping account of the problems and scandals that continue to bedevil the world's banking system some seven years after the credit crunch. It follows the fortunes and misfortunes of individual banks, from RBS to Lloyds. It exposes instances of mis-selling, money laundering, interest rate fixing and incompetence. And it considers the bigger picture: how the failings of the world's banking system are threatening to undermine our future economic security. Alex Brummer, the City Editor of the Daily Mail, has had access to all the major players, from HBOS' Andy Hornby, to former Governor of the Bank of England Sir Mervyn King, to the ex-Chief Executive of Barclays, Bob Diamond, to Lloyds' Antonio Horta-Osorio. His book is an insightful - and terrifying - account of institutions once renowned for their probity, but now all too often a byword for incompetence, and worse.
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"Grimly fascinating... This is a pacey accessible and astute summary of what has gone wrong with the banks, and what the banks have done wrong... It is a sobering narrative in which Brummer's judgements are nuanced and reliable." -- Oliver Kamm The Times "Like a surgeon at his operating table, Brummer dissects each British, American and European scandal of the last 10 years. He spares nobody, but his demolition job is made all the more powerful by the sparing language he deploys towards his targets. This is controlled menace at its best." -- John Kampfner Observer "[Brummer] is a doyen of British financial journalism and it shows in the maturity of his judgments and breadth of his knowledge... It is all skilfully woven together by a writer who knows when to fly high and when to swoop low." Financial Times "Through and expansive." Management Today "An informed, riveting and ultimately disconcerting read." Business Life