BrainKing - Forum (Politics)

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Politics

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14. augustus 2010, 23:47:21

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Alistair Darling: RBS 'two hours' from collapse in 2008..

Alistair Darling, chancellor of the exchequer at the time of the financial crisis, has described a "frenzied" phone call with a senior RBS executive as the bank teetered on the brink of collapse.

"It was quite clear the bank was going to fail in a couple of hours and he said 'what are you going to do?'," he told Today presenter James Naughtie.

"Happily we did have a plan, and we stopped the bank from closing," he said. "If RBS had gone down the rest would have gone with it"