The Royal Bank of Scotland, one of Great Britain’s largest banks, is on the verge of nationalization, the Telegraph is reporting.
The bank’s stock prices fell 65% after it was revealed the bank had lost $56 billion in 2008, the largest loss in Britain’s banking history.
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Excuse me, but how is it that a bank named the “Royal Bank of Scotland” isn’t already nationalized?
It looks like the Royal Bank of Scotland has learned a few things from the Yanks — how to advertise and how to lose money.
