RBS - Bunch of Tossers

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RBS - Bunch of Tossers

Post  El Guapo on Fri Feb 26, 2010 7:50 am

BAILED-out Royal Bank of Scotland is giving bonuses of more than £1million to a HUNDRED top staff - while STILL losing billions.
The bumper payout sparked outrage last night after £45billion of taxpayers' cash saved the bank from collapse in the recession.

Defiant chief executive Stephen Hester claimed the bank had acted with "restraint" while rewarding its star employees to keep them from quitting.

But shadow chancellor George Osborne slammed the fortunes still being paid to bankers - declaring: "It has got to ridiculous levels." At least 100 will get a minimum of £1million each at RBS, which made a £3.6billion loss last year.

Branch staff will share in a total £1.6billion bonus pot - getting an average of under £1,000 each.

Mr Hester said many earned less than bus drivers - taking home under £20,000-a-year. But with the average high-flying trader at RBS still coining it to the tune of £160,000 in pay and bonuses, one transport worker fumed: "I'd like to swap jobs with them."

But Mr Hester insisted: "Recruiting good people and retaining good people is the most important job I have.

"The number of top-rated people we lost doubled last year."

The biggest windfalls go to workers in its investment banking arm which made a £5.7billion profit. RBS chalked up its £3.6billion loss following a bad debt bill of nearly £14BILLION - essentially money lost on unpaid personal loans and corporate customers going bust.

Lib Dem treasury spokesman Vince Cable slammed the bonuses as "hard to understand".

He said: "RBS rewarding individual bankers is like a football team paying their striker for scoring when they've just been relegated." RBS shares rose 6 per cent yesterday.

The £24.3billion losses racked up in 2008 by the bank - 84 per cent owned by the taxpayer - were a record for a British company.



Nice to see our hard earned tax is being used efficiently!!

WTF is this country coming to? Is there not a single person in this country who isn't corrupt?! This is an absolute outrage! The national debt is higher than ever before becuase Labour keep signing blank cheques without a thought!

What's going to happen next year if the bank collapses again? Are we supposed to fork out once more to save it and make sure the fat cats can buy that new Rolls Royce?!

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Re: RBS - Bunch of Tossers

Post  Guest on Fri Feb 26, 2010 9:02 am

I hope my dividend is in the post, seeing as it's the public's money that bailed the bastardos out! Evil or Very Mad

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Re: RBS - Bunch of Tossers

Post  Guest on Fri Feb 26, 2010 10:32 am

Yes why aren't they paying some of that money back? What a Face

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