Of course the government has to sell off its shares in RBS. Can you imagine what might happen if it stayed in public ownership? It would be full of civil servant-types, making sure everyone stuck to the rules. There’d be no more huge bonuses; in fact, it might be run like some kind of overstaffed public service, with branches everywhere and cashiers at every window. Obviously not a vote-winner.
“Bank of Scotland fined £45.5m over fraud failure”
Unbelievably, in its pomp and at the height of its powers, RBS’s balance sheet was larger than the whole of the UK economy. Little wonder that its management lost control of the worst of its staff or (depending on your viewpoint) felt they were so big and powerful...
