theguardian.com
RBS Musical Premieres at Edinburgh Festival: A Satirical Look at Financial Greed
James Graham's musical, premiering at the Edinburgh international festival, satirically depicts the rise and fall of Royal Bank of Scotland CEO Fred Goodwin, exploring themes of greed, corruption, and the 2008 financial crisis through song, comedy, and Gothic elements.
- What were the key factors contributing to the Royal Bank of Scotland's collapse, and what were the immediate consequences?
- James Graham's musical about the Royal Bank of Scotland's collapse and subsequent government bailout is a fast-paced, comedic, yet serious production. It uses song, kinetic projections, and a blend of satirical and Gothic elements to depict the rise and fall of CEO Fred Goodwin, portrayed as a ruthless, power-hungry figure. The musical premiered at the Edinburgh international festival.
- Does the musical offer a definitive critique of capitalism, or does it leave the audience with unanswered questions about the systemic issues involved?
- The musical's broad scope and blend of comedic and serious elements, while ambitious, sometimes dilute the impact of Goodwin's downfall. The play ultimately leaves the audience questioning the nature of capitalism and the consequences of prioritizing profit over ethics, hinting at the lasting impact of such financial crises. Future productions might benefit from streamlining the narrative to focus more sharply on Goodwin's actual fall from grace.
- How does the musical portray the relationship between Fred Goodwin and the political figures of the time, and what role did they play in the bank's fate?
- The production uses the story of Fred Goodwin and the RBS to explore themes of hubris, the dangers of unchecked capitalism, and the interplay between business and government. It examines how Goodwin, while claiming to follow Adam Smith's philosophies, disregarded ethical considerations, leading to the bank's downfall. The musical incorporates local Scottish humor and references to key political figures like Gordon Brown and Alistair Darling.
Cognitive Concepts
Framing Bias
The review frames the play as a primarily entertaining spectacle, highlighting its pacing, music, and comedic elements. While acknowledging the play's serious subject matter, the emphasis on entertainment might overshadow the critical analysis of the historical events and their implications. The descriptions focus more on the theatrical production's success than a deep dive into the underlying themes.
Language Bias
The review uses descriptive language that leans toward praise and entertainment. Words like "sparky," "exuberant," and "amusing" are frequently employed, suggesting a positive overall assessment. While not explicitly biased, this positive framing might subtly downplay the severity of the historical events portrayed.
Bias by Omission
The review focuses heavily on the theatrical aspects of the play, offering limited analysis of the actual historical events and their complexities. While it mentions the subprime mortgage crisis and capitalism, these elements are treated superficially, lacking depth and potentially omitting crucial context necessary for a complete understanding of the 2008 financial crisis and RBS's role in it. The review also doesn't delve into alternative perspectives on Goodwin's actions or the government's response to the crisis. The omission of these details limits the reader's ability to form a fully informed opinion.
False Dichotomy
The review doesn't present a false dichotomy, but it does simplify the complex motivations behind Goodwin's actions and the events leading to RBS's collapse. It portrays Goodwin as a simple 'ruthless tyrant' driven by hubris, without exploring the nuanced economic and political factors involved.
Gender Bias
The review mentions Goodwin's office lover, Rita, but her role and character are described minimally, mainly in relation to Goodwin. This could be seen as a slight gender bias, as her perspective and importance to the narrative seem downplayed compared to Goodwin's.
Sustainable Development Goals
The musical depicts the unchecked greed and corruption within the Royal Bank of Scotland, leading to its collapse and a government bailout. This highlights the significant economic inequality where bankers enjoyed immense wealth while the consequences were borne by taxpayers and the wider economy. The lack of accountability and the ultimately unpunished nature of Goodwin's actions further exacerbates this inequality.