RBS made a loss of £5.2 billion last year, the fifth consecutive loss since being taken over by the state in 2008, yet it paid out bonuses of £607 million (of taxpayer money). Only last month the bank was fined £381 million for rigging Libor rates and has set aside a further £1.1 billion to pay compensation to customers mis-sold payment protection insurance, …
Spineless. Who’s in charge?
The UK Government has apparently given up trying to stop bailed-out royal Bank of Scotland paying out bonuses to the dealers who brought it to its knees, even though the bank is now 70 per cent owned by the British taxpayer. Some employees are set to get five-figure sums. There is even speculation that bonuses will go ahead next year …