The past is now past, it is time to move on
Published Date:
21 November 2008
FOR Royal Bank of Scotland, once Scotland's biggest company, yesterday's general meeting saw the drawing of a deep line. It divides not just an old bank from a new, but a new era from the old. The meeting formalised a £20 billion government recapitalisation. It also saw a full capitulation of its chairman, Sir Tom McKillop, and chief executive, Sir Fred Goodwin. Both delivered something all too rare from UK financial institutions in this dark, epochal year: full and unqualified pub
Such apologies were absolutely necessary. For until they came, there could be no meaningful break with the old bank and a start made to the task ahead of rebuilding confidence and, with it, the bank's name and reputation. It may not be a sufficient...
The full article contains 491 words and appears in The Scotsman newspaper.
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Last Updated:
20 November 2008 8:40 PM
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Source:
The Scotsman
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Location:
Edinburgh
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Related Topics:
Royal Bank of Scotland
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Scotland's banking crisis
