RBS Could Fail In 10 Years Says Book

As a result of the British Government outsourcing its responsibility to supervise the large banks to industry groups and not holding bankers to account, the Royal Bank of Scotland Group plc (ADR)(NYSE:RBS) (LON:RBS) is in danger of failing within ten years, says a new book. Book details lavish spending, irresponsible behavior as government regulators let banks write the rules Shredded: Inside RBS, The Bank That Broke Britain, written by the financial journalist Ian Fraser and recently reviewed by Britian’s Independent newspaper, says the bank has a £100 billion pound financial “black hole” caused by “five broad areas of alleged criminality…