The Royal Bank of Scotland has announced losses of £3.6 billion but is nevertheless going to pay its investment bankers bonuses totalling £1.6 billion. Well, duh! Surely if they didn't pay the blighters their bonuses then the losses would only be £2 billion? Is this any way to run a battleship?
The justification is apparently that the investment bank bit of RBS made a profit, although the rest of RBS made a loss. And they claim that without the bonuses all these brilliant bankers would go elsewhere for employment. Bollocks. When the investment bank bit made a total balls-up then we all had to share the losses so why don't the bankers do likewise? And if they want to go somewhere else then goodbye, chaps!
Grrr. Harumph.
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