thousand small to medium sized enterprises in the united kingdom who did business of the royal bank of scotland had their businesses trashed by the royal bank of scotland and pieces were sold off for cash as a corrupt insider scandal with the government's cooperation in the b.b.c.'s cooperation to decimate hundreds of thousands of britons and had their assets stolen the royal bank of scotland totally condoned by the government encouraged by the government loved by the government because those insiders that aren't or a bank of scotland then give their money to candidates the same government saying ok our tax authority or royal tax authority a royal whatever the cause is allowing celebrities to get away with crime because they don't want to get embarrassed so that the worst crime that can happen in britain is being a feeling awkward so in other words if i went up to buckingham palace and i committed a crime and it was awkward then i would be allowed to go free because the crime of awkwardness is to be is on is on excel only for certain a certain sort of person exam x. and i lived in the united ki

raised from the sale of the taxpayer ‘s stake in the sale of the taxpayer ‘s stake in the royal bank of scotlandsuggestions being put forward at the party's annual conference this weekend, taking place in brighton. a little earlier, i spoke to our political correspondent jonathan blake, who is in brighton for us, and he gave me the context around this particular policy. the economy is comfortable territory for sir vince cable and as leader of the liberal democrats, for the time being at least, because he has announced that he will stand down at some point before the next election due in 2022, that's what he wants to focus on. he's talked about this idea of a sovereign wealth fund, which would come about through the sale of shares in rbs, which the government still owns the majority of, and also raising taxes on people who have large amounts of wealth, through either property portfolios or lots of investment in stocks and shares. he says the money from that should be used to be reinvested on behalf of the country as a whole, to earn more money back for society in the long term. go back ten years,

a ten year period and would include funds raised from sale of the taxpayers' stake in the royal bank of scotlanduggestions being put forward at the party's annual conference this weekend. our political correspondent jonathan blake is in brighton for us. so, plenty of focus on this particular policy? there is. this is familiar ground for sir vince cable, the former business secretary and somebody who some people at least credit in part with predicting the financial crisis that happened in 2008. he was warning the then labour government about rising levels of household debt, and then of course the crash happened. one result of that was royal bank of scotland being bailed out by the taxpayer. sir vince cable will say today is a disgrace that ten yea rs will say today is a disgrace that ten years on from that, the taxpayers themselves have yet to feel the benefits or to be rewarded for doing that. part of his idea to create this sovereign wealth fund is to sell off some of the shares in rbs, to also raise taxes on people who have high investments and high levels of wealth through property portfolios

declares war on capitalism and he will talk about the bank bailouts we had to do following the financial crisis, of lloyd and the royal bank of scotland. it was extremely costly at the time. the timing is point meant. it is the 10—year anniversary from financial crisis and he will get good impact. it is interesting that he is going back to the core of a labour economic plan because the prime minister was gordon brown at the time. ever which was born under the time. ever which was born under the leadership of tony blair. —— new labour. it was seen as the core economic plan which is greed isn't bad, that kind of philosophy. —— is bad. moving towards the more centralist zone but this is looking to move labour back toward the original site. wind and solar and talking about £12 billion spent in the first term creating 400,000 jobs. expected to be some of the headlines. it sounds fantastic but you do wonder how they would pull this off and where the money would come from. especially if you think about the timing. you are thinking poster brexit when you do not even know what is going to happen. —— post—brexit. the reality is probably going t

former governor of the bank of england, lord king, has condemned the uk's preparations for brexit as "incompetent" in the business news rbs is closing a further 54 royal bank of scotland the branches will be shut injanuary 2019 and are in addition to 162 branch closures already announced this year. the bank said the closures are a result of the collapse of plans to float off a new "challenger bank" under the name williams & glyn. lord king has criticised brexit preparations — with a warning over the way negotations have been handled. the former governor of the bank of england — who supports brexit — said it "beggared belief" that the world's sixth—biggest economy should be talking of stockpiling food and medicines, warning that it left the government without a credible bargaining position. thousands of people in the uk were charged twice for debit card payments, due to an issue with a card terminal run by cardnet, a joint venture between lloyds bank and first data. money was taken from bank accounts twice but transactions only showed up once on many receipts. lloyds says customers have now been refunded. a turbine that can capture wind from any direction has won the u

still on brexit — the chief executive of royal bank of scotland has warned that the bank may have to ers if there is no brexit deal. ross mcewan said 150 rbs staff had been deployed to amsterdam to set up a new operation serving the bank's european customers ahead of a no—deal scenario. india is turning its postal workers into bankers. prime minister narendra modi wants to put an end to what he has called "financial untouchability, " especially for the poor in rural areas. over the weekend, india post started operating financial services across the country. for more on the story, we're joined now by bbc business reporter sameer hashmi in mumbai. this is an important way to include people who up until now have been excluded from the ways we might take for granted. that's right, then. the idea of the scheme is to reach out to more people across the country. there is still a huge section of society that doesn't have access to basic financial services. that's why what the government hopes is through the postal service which has a far wider reach they will be able to reach out to those peo

backend and out of holland the dutch have it's cool to add yen and that's about processing across the board behind it so it's not the big banks not necessarily although royal bank of scotland and some others have really jumped into this as well and they using a lot of these stands for their backend and their compliance group that's super helpful as always this is so great it's great to have you here exploiting all of this one i think it was also about let me just if i may just add sure it was also me about. that a lot you know one of the unintended i would think people would be scared because of they wouldn't be investing in the u.k. well actually no one of the unintended consequences of these brussels bureaucrats and all the compliance all the compliance and all the regulations coming out of europe is it's called reg tech and that's all these financial companies in the technology behind it they're for compliance issues so they've actually for once you could actually say brussels bureaucrats actually created the business the other think for us to talk about that red tech in the future automating regulatory compliance for another whole topic c.e.o. mark thank you will the l

once you saw the royal bank of scotland getting to the end of the day, the decision to lend money tot a lot of the assets which they had was the right thing to do to prevent the british economy from grinding to a halt. the money was repaid two or three months later. help preventon did what would otherwise be in immediate collapse. difference,policy the thing that really brought the banking collapse to an end, was not just initially lending money to stave off an imminent disaster, it was doing the underlying weakness, that they had not issued enough equity capital to give confidence to the market. it was all very well for the central bank to lead and what we had to do was to take steps to ensure everyone else had confidence in the banking system, and that meant the recapitalization of the banking system in which private or public money was put into the banks to make sure they could absorb losses without imposing a risk to the various people. ♪ >> the decision to let lehman brothers go, which surprised us, it completely surprised the market, surprised everyone, they all thought, we all

of the system. within 10 days, we at the bank for the sole supporters in bankdity terms of halifax in scotland and the royal scotland. it was a trigger point for the meltdown. important to you think for markets in some ways to allow lehman to collapse to have got to deal with the repercussions of the risk you take in order to put a stop to moral hazard in some ways? no, i think it was a disastrous mistake. you can argue afterwards that it was impossible to step in and help them. that actually it was better in the long term but i think you could see in the month or two ,fter the failure of lehman's even after the successful rescue operation of the rest of the banking sector, that the whole world economy took a huge step downward. and that was a precipitating factor. of course, there were political reasons for that. it was very difficult for the u.s. government to step in again to bailout and use taxpayer dollars to bail out wall street. i understand that. in that sense, it may have been unavoidable but insofar as it was a decision, it was a mistake. anna: you talk about the amount of cop -- cooperation that

rbs is closing a further 5a royal bank of scotland branches in england and wales with the loss of 258jobsalready announced this year. the bank said the closures are a result of the collapse of plans to float off a new "challenger bank" under the name williams & glyn. britain's large services sector — everything from restaurants to banking — surprised economists by picking up more strongly than expected last month. the sector, which makes up about 80% of the economy, saw many companies working at capacity with full order books. but firms said brexit worries were slowing investment for the year ahead. lord king has criticised brexit preparations, with a warning over the way negotations have been handled. the former governor of the bank of england, who supports brexit, said it "beggared belief" that the world's sixth—biggest economy should be talking of stockpiling food and medicines, warning that it left the government without a credible bargaining position. so today could be a difficult day for some of the biggest names in tech? with the us midterm elections less than two months away, the

a 10—year period and would include funds raised from sale of the taxpayers‘ stake in the royal bank of scotland number of suggestions being put forward at the party's annual conference this weekend. the number of people killed by typhoon mangkhut in the philippines has risen to 25. violent winds of more than 160 miles per hour and torrential rains, triggered landslides and caused extensive flooding. but blocked roads and wrecked communication lines means the true impact on rural areas is not yet clear. 0ur philippines correspondent howard johnson reports. mangkhut has been called by meteorologists the strongest typhoon in the world so far this year. and now, the reality of the utter devastation it has caused is becoming obvious. extreme flash flooding. the fragility of human existence laid bare. the road to cagayan province was littered with destruction. electricity posts ripped from the ground, street lamps bent in two, and this man's house torn to shreds. he showed me where the roof had been pulled back like a tin of sardines. fighting back the tears, he told me how he'd spent the night in an

once you saw in our case the royal bank of scotland unable to get to the end of the day, our decisiononey to it against a lot of the assets which they had was the right thing to do to prevent the british economy grinding to a halt. the money was repaid two or three months later. we -- with interest and we got all the money back. that action did help to prevent what would otherwise be an immediate collapse. the key policy difference, the thing that brought the banking collapse to an end was not just initially lending money to stave off an eminent disaster, it was trying to do with underlying weakness of the banking system which was they had not issued enough equity capital to give confidence to the market. with the market to lend to them it was well for the central market to win two banks. we had to take steps to ensure everyone else had confidence in the banking system and that became known as the recapitalization of the banking system in which the private money or public money was put into banks to make sure they could absorb losses without imposing a risk to the various people who h

bank of scotland bailed out to the tune of tens of billions of austerity pounds by u.k. new liberal labor prime minister gordon brown after leaving and is leavin bankers in london's royal party to celebrate ten years since the bank went bust we speak to rolling stone journalist in all the time be who famously described goldman sachs as a great find by a squid wrapped around the face of humanity plus she's following through on the crisis was she still thinks she's a ring on the people of this to be the leader of western europe's largest labor movement gets only a blairite accusation of racism in response to his grilling of minority u.k. government leaders are racism a plus for this week's papers it's arrogance with a consolation for the pint at lehman brothers the american war monger john bolton well the simple coming up in today's going underground but first today marks ten years to the day that the self-styled musters of the universe got that comeuppance or rather the entire western world was crashed by an economic model centered on financial services that were built on sand within days as the financial contagion spread u.k. labor iraq was supporting chancellor gordon brown