The biggest bank bailout in history led to a massive restructuring that,even seven years on, is far from total It was, and as Stephen Hester described it,the biggest financial time bomb in history and it needed to be defused. When Hester took over as chief executive of Royal Bank of Scotland in October 2008, and as £45bn of taxpayer money was being pumped in to the trade, and the once proud Edinburgh-based bank was on the brink of an implosion that could have brought down the UK economy with it.
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Source: theguardian.com