The Royal Bank of Scotland was bailed out to the tune of $45 billion – in return, the managers systematically ripped off their own customers and undermined the British economy. After hearing countless accounts in the House of Commons last week about how business owners were deliberately and systematically bankrupted and then left to, by its own words, “hang themselves”, the government announced its intention to do… well, nothing.
Since the 2008 financial crisis, UK authorities have been absolutely toothless when it comes to prosecuting bankers who’ve broken the law. Is it simple incompetence? Or is our regulatory system designed so that victims fall through the gaps, while banks are permitted to operate above the law. Joining us this week is former Met Detective and victim of RBS GRG’s long-running scheme to defraud its SME customers, Andy Keats, and researcher & campaigner, Joel Benjamin.
Since the financial crisis, apart from a few tokenistic traders, the UK authorities have been absolutely toothless when it comes to prosecuting bankers who have broken the law. But is this just incompetence, or is our regulatory system designed in a way that means that victims fall through the gaps, while banks are permitted to operate above the law? Get a sneak-preview of our upcoming episode on white-collar crime featuring former Met Detective, Andy Keats, and researcher and campaigner Joel Benjamin.