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The content contained in this blog represents the opinions of Mr. Hempton. You should assume Mr. Hempton and his affiliates have positions in the securities discussed in this blog, and such beneficial ownership can create a conflict of interest regarding the objectivity of this blog. Statements in the blog are not guarantees of future performance and are subject to certain risks, uncertainties and other factors. Certain information in this blog concerning economic trends and performance is based on or derived from information provided by third-party sources. Mr. Hempton does not guarantee the accuracy of such information and has not independently verified the accuracy or completeness of such information or the assumptions on which such information is based. Such information may change after it is posted and Mr. Hempton is not obligated to, and may not, update it. The commentary in this blog in no way constitutes a solicitation of business, an offer of a security or a solicitation to purchase a security, or investment advice. In fact, it should not be relied upon in making investment decisions, ever. It is intended solely for the entertainment of the reader, and the author. In particular this blog is not directed for investment purposes at US Persons.
2 comments:
The decision to buy ABN for cash after clear warnings from the early stages of the credit crunch was one of the worst decisions in corporate history. It is extraordinary that Fred, Tom and most of the board who made that decision are still in place. The entire senior management of RBS are a symbol of hubris and bombast. They should all go and Fred should be the first one out the door. Also the corporate jets should be sold, including the one due for delivery next Spring.
I work for RBS and they are keeping everything under wraps. No one has said anything about us being in any kind of trouble. In fact, last week they made it seem as though we are in position to purchase another financial institution yet they have cut our bonuses by 10%. What is up with that! We should know what is going on and shouldn't have to find things on the net!
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