RBS was 'disaster waiting to happen'

Telegraph
"When the outgoing board of directors at RBS met for the final time in January, the scale of the business disaster they had overseen was abundantly clear. The bank was preparing to announce the biggest British corporate loss in history; the Treasury was about to underwrite £325 billion of RBS’s questionable assets; and even the Prime Minister had “gone white” when given details of the bank’s trading activities. .....By last month, the bank admitted the scale of its disastrous mistakes, unveiling a £28 billion loss. The taxpayer now effectively owns the toxic debts. One former executive estimates that losses could total more than £100  billion before the end of the recession."