Corruption Contagion - Ross McEwan losing the propaganda war
It comes to something when the Chief Executive of the UK’s biggest failed bank has to go onto BBC Radio 5 Live and talk about ‘forgiveness’. This is the language of a phony, fake liar. This has got to be the worst PR/Propaganda failure in the history of modern banking and it clear that the rats are jumping from the sinking ship that is RBS. It also demonstrates a pattern of behaviour which is doggy and sly.
The past 10 days have been awful for Ross McEwan and he is the victim of serious PR failures of the highest order.
Here is the catalogue of failures for the 3rd quarter 2015:
14th September – Revealed: the email that shows how the Treasury orchestrated the RBS scare story
18th September – RBS announce that it is going to spend £42 million of taxpayer money to defend a shareholder action
13th November - In a major development in swaps litigation, an explosive judgement issued on Friday 13th November by a English High Court judge has held that there is “ample support for an inference of fraud and dishonesty at the highest level of RBS”.
24th November 2015 – Ross McEwan on LBC Radio claiming RBS is ‘a changed business’ but not fully answering questions from a listener claiming that RBS falsifies documents.
26th November – Judge Robert Hildyard at the High Court judge delayed the trial in a drawn-out battle between Royal Bank of Scotland and shareholders, criticising RBS and its legal advisers for being “unfocused” and swamped by 25 million documents. Thousands of shareholders are claiming around £4 billion pounds in compensation and alleging that RBS’ collapse in 2008 contained misstatements and omissions. Adjourned until 2017.
8th December – John Collins – Chief Legal Counsel for RBS resigns to join Santander
9th December – RBS Share price dips 3%. RBS Settle a tax evasion case brought by German financial regulators where RBS were accused of using the Queen’s Bankers – Coutts & Co – to engage in tax evasion schemes
10th December – Ross McEwan on Radio 5 Live speaking on the theme of forgiveness – saying it will take time to rebuild trust.
Look Ross, forget the trust and forgiveness - are your trying to send the Britsh public down the garden path? You have inherited a failed bank and all you are doing is whistling on about ‘trust’ and ‘forgiveness’. RBS victims do not want your trust or forgiveness. Give back the money that has been stolen from SMEs and let them move on. It is really disappointing when bankers turn out to be liars, phonie and fakes - but not surpising.
More to come for RBS this week as they brace themselves for a $13 billion fine by US regulators for mis-selling mortgage backed securities and a UK based class action lawsuit for mis-selling EFG loans.
Ross McEwan - Get off your high horse and get on your bike