It gets better everyday and you could not make this up. In China he would have got a bullet for his absolutely astonishing ineptitude with a few in reserve for the rest of his board of chimps.
Rather interestingly I notice that HM Government has just done an amazing deal that will benefit all of us. In a uniquely brilliant business plan not only are they inject more £billions to this basket case but they (aka, The Taxpayer) have taken on the large portion of RBS' bad debt...around £300bn which they have guaranteed. I have looked closely at this plan and I cannot see any faults in it. Even better RBS have vowed to lend £25 billion..errrrrmmmmmm, where are they getting this from?
I await with interest to see how the 'oh we'd all be broke if we didn't help these poor banks' apologists explain this one /yawn. This is exactly like an epsiode of Laurel and Hardy, only nowhere near as funny.
If someone further down the scale had made the misjudgements he made, they could have been fired for gross misconduct, and would have had to accept whatever pension was "fair". Who decided not to do this? Probably the same sort of manager that decided not to fire J Ross.There seems one rule for the wealthy and incompetent and another for the rest of us. Also surely the Non exec Directors , especially of the banks where the government is a majority share holder, should be told to set salary and bonus levels oa a "civil service" grade equivalent to the resposibility. If this is not enough, let them go somewhere else if they like. As a group they could scarcely have done worse, coupled with the government's lack of control.(Unlike Germany, for example)
ps..I find it hard to believe that not one of the board said 'I say chaps, bit tricky here, we appear to be losing £500+million a week and we have £325billion of toxic debt, I fear that we might not be trousering as much as we should be'. This is/was a company that was supposed to give financial advice to us......hmmmmmmmmmm.