but hey, Trump proves every day that 1 in 3 Americans are complete f**king idiots who believe in fairy tales
LINK
Emails show RBS bankers joked about destroying the US housing market before 2008
The DOJ said the bank made "false and misleading representations" to sell more RMBS, adding that senior executives "showed little regard for their misconduct and, internally, made light of it."
When the contagion in the housing market became clear, the head trader at RBS got a call from a friend who said: "[I'm] sure your parents never imagine[d] they'd raise a son who [would] destroy the housing market in the richest nation on the planet."
"I take exception to the word 'destroy.' I am more comfortable with 'severely damage,'" he replied.
The bank disguised the risks to investors while making hundreds of millions from a housing market that a senior RBS banker described as broken, incentivising bad loans that meant lenders were "raking in the money."
LINK
Emails show RBS bankers joked about destroying the US housing market before 2008
The DOJ said the bank made "false and misleading representations" to sell more RMBS, adding that senior executives "showed little regard for their misconduct and, internally, made light of it."
When the contagion in the housing market became clear, the head trader at RBS got a call from a friend who said: "[I'm] sure your parents never imagine[d] they'd raise a son who [would] destroy the housing market in the richest nation on the planet."
"I take exception to the word 'destroy.' I am more comfortable with 'severely damage,'" he replied.
The bank disguised the risks to investors while making hundreds of millions from a housing market that a senior RBS banker described as broken, incentivising bad loans that meant lenders were "raking in the money."
