Bank 'set to sue Goldman'

THE chairman of Royal Bank of Scotland has revealed that it has taken legal advice about suing Goldman Sachs.

Philip Hampton told investors that executives had spoken to lawyers in the wake of the decision by American regulators to charge the controversial investment bank with fraud.

The charges concern a complex investment portfolio related to sub-prime property on which RBS lost around 553 million.

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It's alleged Goldman failed to disclose that the choice of the investments was influenced by a hedge fund that was betting that some would fall in value.

RBS has previously declined to comment. Mr Hampton told the bank's general meeting it was "digesting the implications".