ANOTHER MOTU EPIC FAIL

This time in Great Britain...

RBS Plummets Amid Concern Bank May Be Nationalized (Update2)
By Jon Menon

Jan. 19 (Bloomberg) -- Royal Bank of Scotland Group Plc slumped by the most in two decades in London trading on concern the government may have to take full control of the bank after forecasting the biggest loss ever reported by a U.K. company.

RBS has been crippled by former Chief Executive Officer Fred Goodwin’s 14.3 billion-euro ($19 billion) acquisition of ABN Amro Holding NV’s investment banking assets three months before the credit crisis began. Goodwin was ousted in October after the government agreed to take control of RBS. Chancellor of the Exchequer Alistair Darling today called the ABN Amro takeover “disastrous” on BBC Radio 4.

“I am angry at the Royal Bank of Scotland and what has happened,” Prime Minister Gordon Brown told reporters in London today. The bank took “irresponsible risks,” in investing in U.S. subprime mortgages and ABN Amro, he said.