Fred Goodwin

In particular, the market for banks was going down because of the credit crunch.

And eventually, Fred Goodwin, the CEO of RBS, they, I guess, won and ended up buying ABN AMRO.

And a few years later, they came out and admitted that it basically had a negative value, that almost they shouldn't have taken it for free, not to mind what they did pay for it.

um endowment effect so this is another effect and maybe you can spot it in yourself suppose you won two tickets to the world cup to see your national team play how much would you sell them for and is that price a different price than you would have paid for them And often this is a thing that people do, is that once they have something, they think it's more valuable than if they didn't have it.

Anyway.

It's interesting because the last James Graham play I saw was Make It Happen at the International Festival last year, which was about Fred Goodwin of RBS and haunted by the ghost of Adam Smith, played by Brian Cox.

So it's quite funny, James Graham's kind of got this now new seam of plays which are to do with, you know, historical economic figures.

And Adam Smith kind of haunts this one as well, actually, not physically, but very much spiritually.