The infamous 2008 housing market crash didn’t take everyone by surprise. Emails from Royal Bank of Scotland that the U.S. Department of Justice recently released include jokes from bankers about ruining the U.S.’ housing market. At one point, the bank’s chief U.S. credit officer described the financial products RBS was selling as “total fucking garbage” with “rampant” and “random” fraud, according to Business Insider. The email and call transcripts were released as part of a […]
source https://therealdeal.com/2018/08/17/total-fcking-garbage-rbs-bankers-joked-about-how-bad-their-loans-were-prior-to-the-us-housing-crash/
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