Royal Bank of Scotland Loses Over £5 Billion but Government Think RBS is Doing a Great Job

Friday, 1st March 2013

ROYAL BANK OF SCOTLAND LOSES OVER £5 BILLION BUT GOVERNMENT THINKS RBS IS DOING A GREAT JOB – If of late you have been wondering if our Government are out of touch with no sense of reality then its response to RBS losing an incredible £5.2 billion while still awarding bonuses of over £600 million, that they are actually doing a great job, confirms that Government Ministers are in fact completely out of touch with any type of reality.

This is the fifth year in which the RBS has lost a staggering amount of money and still insists that its management should be awarded vast bonuses.

According to our Government Minister the management at RBS is showing high levels of ‘responsibility and restraint’ even though it accrued such mammoth losses and if the handout of over £600 million is considered ‘showing restraint’ I would dread to think what the figures would need to be before our Government actually showed some type of concern.

Much of the losses can be directly attributed to the massive cost in charges over the mis-selling investments and services to it customers, which so far has cost the taxpayer £4.6 billion and it hasn’t ended yet.

Since the Government insisted the taxpayer bailout RBS in 2008 it has racked up debts exceeding £36 billion.  If you break this figure down and round off the UK population to 63 million, that equates to just over £571 per person.

RBS Share Price

It appears that if you either work in Government or indeed a state run entity then the worse you perform at your job the higher your pay.

While the average British Taxpayer toils away in order to scratch a living from the scrapes that David Cameron leaves us with, he and his old school chums are living the high-life with what appears to be total disregard for the public and immunity from ever being held responsible or indeed dismissed.

Once again this Government openly declares its contempt for the British taxpayer in allowing us to continuously pay for a sub-standard service by people who are obviously ill equipped to do the job – but that doesn’t matter, because when someone else is picking up the bill, no doubt others will be popping the Champagne corks in Parliament.