Royal Bank of Scotland Investigation - Will Sutherland be Barred from Directorships

[C. Flower]

Due to report tomorrow - the RBS investigation. As a Director of the Bank, Peter Sutherland is expected to receive some attention. Vince Cable will consider whether or not former Board members should be barred from acting as Directors.

http://www.google.ie/url?sa=t&rct=j&...l8pD5ecDLE2Lvw

The FSA and Tyrie have agreed on the name of a senior lawyer, accountant or respected City financier who will attempt to break the legal deadlock. That way the path could be clear for a comprehensive account of why one of the biggest banks in Britain needed a £45bn taxpayer bailout. The government has an 83% stake in RBS.

Turner and Sants have been under pressure from the Treasury select committee, the chancellor, George Osborne, and business secretary, Vince Cable, all of whom have been demanding a report be published as soon as possible. Last year's summary on RBS's purchase of ABN by accountancy firm PricewaterhouseCoopers took 18 months to complete and cost nearly £7.8m. The absence of a comprehensive report or action against individuals drew a barrage of criticism.

The British media anticipates that the report will be "explosive."

http://www.telegraph.co.uk/finance/n...went-bust.html

The RBS collapse in 2008 cost the British 42 billion pounds.

[DCon]

If he is barred, he could supplement his income by becoming Sec Gen of the DoF..

[Captain Con O'Sullivan]

Alan Dukes will look after Sutherland alright- seeing as Dukes was his assistant more or less when he was EU Commissioner and they are pretty much joined at the hip politically.

[barrym]

Just on more stain on the already well-stained Suds. Well connected = well upholstered = well protected.

On Panorama last night they had the present boss of Goldman Sucks who says the next big opportunity is a rising middle class in China and India, presumably to be fleeced.....

RBS, move on, nothing to see here..... the nett outcome, Lord Turner in tv interviews.

[Captain Con O'Sullivan]

Goldman Sachs are already well at it in China. The one interesting thing about that is that I wouldn't discount the possibility that the Chinese are watching them closely. GS may bite off more than it can chew there and one set of people you really don't want to annoy is the Chinese as they have a habit of applying sanctions way outside recognised banking practice. A bit like some who I suspect were bondholders in Anglo in 2007/2008.

Do zhvidanya, Conor, (Fianna Fail's man in Moscow)