Taxpayer owned RBS makes £2bn loss

[DimPrawn]

RBS pays £985 million in bonuses despite 2 billion loss | Reuters


So pays £985,000,000 in bonuses.

Good to see our taxes put to good use again.

I wonder how much RBS donates to the Conservative party?

[d000hg]

What if the people they paid £1bn to avoided the loss being £5bn... then they're still a net gain to the balance sheet compared to bringing in cheap people who would screw it up.

When a company is in problems, you NEED to pay the best people you can find to try and save it. I'd expect a contractor on £500/day to know such things

[DimPrawn]

What if the people they paid £1bn to avoided the loss being £5bn... then they're still a net gain to the balance sheet compared to bringing in cheap people who would screw it up.

When a company is in problems, you NEED to pay the best people you can find to try and save it. I'd expect a contractor on £500/day to know such things

[scooterscot]

What I do know is I cannot afford to pay myself a bonus at the end of year if the money is simply not there.

[d000hg]

What I do know is I cannot afford to pay myself a bonus at the end of year if the money is simply not there.

That's because you're a tinpot faux-company innit. Proper companies either have large cash reserves or proper credit facilities.

[fullyautomatix]

If the bonus is in the contract they have to pay it. There are several divisions in RBS and if one division has made tons of money then as per contract the employees in that division have to be paid a bonus.

Having said that, I remember Labour doing a deal when Northern Crock was nationalised in order to prevent employees from jumping ship. They promised every employee a bonus irrespective of the performance and when it made a gigantic loss the employees still got a bonus.

[TimberWolf]

Meanwhile, in a far off universe, the people most affected by the bankers reckless gambling are being forced to work for less than minimum wage. We're all in this together™.

[DimPrawn]

Meanwhile, in a far off universe, the people most affected by the bankers reckless gambling are being forced to work for less than minimum wage. We're all in this together™.

And whilst govts in the USA, UK and EU effectively print money in order to support zombie banks and their bonus culture, oil is $123 a barrel and rising fast, where as in December it was $103.

[TimberWolf]

Should have gone [bust] like Iceland.

[DimPrawn]

Should have gone [bust] like Iceland.

No, no, privatise profits and nationalise losses. Only Fair.