Today's news about the Royal Bank of Scotland making a loss of a 'mere' £1.13 billion comes as something of a surprise. Even I can tell them how to reduce that loss to about £63 million at a stroke. Wasn't it only about two weeks ago that RBS promised not to pay out more than £950 million in bonuses to its staff?
Well, as a government employee, taxpayer (and therefore shareholder in RBS), and normal person with a little common sense, I say that we need some better bankers who will return a profit for us. Paying bonuses for this poor performance is simply encouraging failure. When the bank makes a profit again it can pay bonuses. Meanwhile the money is OURS.
The 1 million other people employed by the government will get no incentives - what makes RBS so special?
Trying to see the bright side . . . I think they might be in the same mindset as the now defunct Panam airline, who are said to have been the only state airline never to make a loss. They made a negative profit!
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