Royal Bank of Scotland (RBS), which is 84 per cent owned by the British taxpayer, will pay out up to £1.7 billion in bonuses to its bankers after reporting a £3.6 billion pre-tax loss for the past financial year.
The loss for the 12 months to December 31 is less than the £5 billion expected and far below the £24.3 billion loss that RBS reported for 2008, a record for any British company.
However, the bank is facing criticism over its decision to reward investment bankers with bonuses worth £1.3 billion, or 27 per cent of its revenue, after receiving billions of pounds in taxpayers' money during the recession to save it from collapse. Other staff will share up to £400 million in bonuses.'
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As usual taxpayers get the short end of the stick.
ReplyDeleteBanks get away with ripping off people who are already broke and living an extremely simple lifestyle, while they reward themselves with our money and live the life of luxury and squander our money away. Charming.
If there is such a surplus of cash, then they should be paying back the money the Government gave them in the first place.
This country has become the 1st choice for criminals of all kinds and stature, unsurprisingly.
No wonder some people wanted to "eat bankers" and burn them at the stake just a few months ago.