Loss-making Royal Bank of Scotland is braced for a row over City pay next week when it is expected to admit that its bonus pot for 22,000 investment bankers has reached £1.3bn – against last year's £1bn.
The Edinburgh-based bank is awaiting approval from UK Financial Investments, the body that looks after the taxpayer's 84% stake in the bank, for its proposed bonus pool. Chancellor Alistair Darling has yet to receive a formal presentation about the proposals, which he can veto. He has already said that bonuses cannot be paid in cash to anyone earning more than £39,000, which would affect most of the workforce in the investment bank.
RBS, which a year ago announced the biggest loss in British corporate history, is on Thursday expected to show that its losses have narrowed.
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That company is GREED personified.
ReplyDeleteI was reading a story yesterday of Bank, I think it was Natwest, which had been ramraided and the entire ATM machine had been lifted from the building with all the money in it.
Although I would never condone stealing, but some of these banks are asking for it, quite literally.
The level of greed, particularly within banks is always super shocking to me every single time I read about it.
RBS is selling most of their buildings and making their staf redundant yet they pay their Investment bankers, who I happen to think are extremely greedy people, bonuses.
I am so glad I din't apply to work for this company, no ethical radar whatsoever.
It's a disgrace.