In other words, RBS had its origins in a failed speculation, a bail-out, and a financial crash so big it helped destroy Scotland's status as a separate nation.
John LanchesterThe person doing the worrying experiences it as a form of love; the person being worried about experiences it as a form of control.
John LanchesterThe City is, in terms of its basic functioning, a far-off country of which we know little.
John LanchesterThe financial system in its current condition poses an existential threat to Western democracy far exceeding any terrorist threat.
John LanchesterIt has been a masterful fight-back by the big banks. We the paying public can't do anything much except admit defeat and settle back for the next set of bills. In the meantime, perhaps, we should try and think of a name for the new economic system, which certainly isn't capitalism ... The most accurate term would probably be "bankocracy".
John Lanchester