RBS - 5 billion GBP loss - On the road to recovery...

[nicko31]

You can't just blame PPI that that its only responsible for £1.1 billion of the figure. And according to the government all the talent will be lost to the US and Asia when bonuses are capped at only double base salaries. What are we going to do without all these gifted people?

 

[yxee]

If 'talent' means losing £5bn a year then I'm not too fussed.

 

[sussexadz121]

I understood it to be 2.2 billion for PPI as well as £650m for its rate fixing scandal It took a £175m hit for its computer system breakdown also nevertheless another tough year for RBS

 

[Lyndhurst 14]

You have to remember these talented individuals work their fingers to the bone every day, gambling with other people’s money. The only ‘risk’ they ever take is losing their job when they really screw up.

 

[severnside gull]

presumably once they do turn to profit they will gleefully return to how things were before, leaving the debts with the taxpayer?
Call me a cynic but has there been any effective change in the regulation of financial services?

 

[Moshe Gariani]

It took a £175m hit for its computer system breakdown

seems expensive but I suppose they must have a lot of computers to turn off and back on again...

 

[sussexadz121]

It took a £175m hit for its computer system breakdown \QUOTE] seems expensive but I suppose they must have a lot of computers to turn off and back on again...

I would imagine it was more complicated than that. I'm only quoting figures from BBC breakfast this morning and thats from memory, so I could be wrong.

 

[nicko31]

You have to remember these talented individuals work their fingers to the bone every day, gambling with other people’s money. The only ‘risk’ they ever take is losing their job when they really screw up.

And our friend Boris describes capping bonuses as "deluded", the only conclusion I can take from that is that there a lot of former Etonians in the city. I city only ever makes money because someone else loses it, just where is the wealth creation from these industries?

 

[Titanic]

seems expensive but I suppose they must have a lot of computers to turn off and back on again...

Indeed. While most of that money was compensation to customers who lost out as a result of late payments etc... a significant amount of it was spent re-employing people made redundant a few months earlier on very expensive short-term contracts.

 

[Uncle Spielberg]

presumably once they do turn to profit they will gleefully return to how things were before, leaving the debts with the taxpayer?
Call me a cynic but has there been any effective change in the regulation of financial services?

The FSA don't really like to rock the boat too much with the High Street banks as they know when they leave the FSA or FCA as it will now become soon there will be a fat and tasty job for them lined up at the Bank. Hector Sants the guy who oversaw the debacle leading up to and after 2007 left the FSA with a Knighthood and a £ 2 000 000 per annum job at Barclays.

 

[Uncle Spielberg]

Indeed. While most of that money was compensation to customers who lost out as a result of late payments etc... a significant amount of it was spent re-employing people made redundant a few months earlier on very expensive short-term contracts.

A lot of FSA staff will get a large redundancy package from the FSA and rejoin the FCA the day after in the same position and salary.

 

[sussexadz121]

Indeed. While most of that money was compensation to customers who lost out as a result of late payments etc... a significant amount of it was spent re-employing people made redundant a few months earlier on very expensive short-term contracts.

well that is quite embarrassing. poor old RBS

 

[ditchy]

You have to remember these talented individuals work their fingers to the bone every day, gambling with other people’s money. The only ‘risk’ they ever take is losing their job when they really screw up.

But i bet you would love to earn the money they do doing their job even ! ... smacks of a touch of envy

 

[withdeanwombat]

I could have had a job at the Westminster Bank when I was little,but chose a different path to poverty and ridicule.

My bonus was decent length holidays with no money to spend on them.The descent into holidays under canvas in rain-drenched south western counties was assured.There was always a chance of a Christmas bonus if I was lucky enough to get the sixpence in the Christmas Pud,though if I did it went towards denture repairs.

 

[hybrid_x]

 

[glasfryn]

he is right
sack all the staff
close the bank down and use the buildings as day centres for the old and needy

 

[chimneys]

One of the best clips I've seen in a long time! Looks like a car seat in the back. Funny if he panned round and there was a 2 year old nodding in agreement with him!

Pecked by pigeon chickens! Love it!!

 

[Uncle Spielberg]

95% of the banking staff are hard working decent folk trying to bring a crust home each week probably on £ 15- £ 20 k an annum and targetted to hard sell the insurance product, investment or mortgage of the week and threatened with the sack if they fail their ridiculously high targets. It is the shysters at the top creaming off massive salaries and bonuses that are the problem. Only today Cameron has poo pooed the idea of a ceiling of 1 x annual salary as a top bonus. Why ? It is because he is in bed with the said shysters.

 

[Poyetry In Motion]

Despite the losses,RBS still manage to pay £600m in bonuses. Nice to see we're still all in this together.....

 

[Uncle Spielberg]

Despite the losses,RBS still manage to pay £600m in bonuses. Nice to see we're still all in this together.....

That is what I mean and I would think 90% of these bonuses went to the tossers at the top not your hard working shop staff.