The Anonymous Widower

Is It The Time To Put RBS Down?

RBS looks like it will be facing large fines from both the UK and US authorities according to this report on the BBC web site. The report starts with this paragraph.

Any fines by US authorities on Royal Bank of Scotland over the Libor scandal should be met by bankers not taxpayers, Chancellor George Osborne has insisted.

But even if it finds this the money to pay the fine from bankers bonuses, the saga of this worthless company just goes on. They still don’t seem to have managed to get rid of the 316 branches, that they tried to offload to Santander.

If the bank were to be put into administration, customers would do the thing, that they should be doing now  and that is move their accounts to another bank.

I do wonder how many people still bank with RBS or its subsidiaries?

At the moment the bank is just a zombie, whose only use for most of us is to get cash out of their cash machines.

Would anybody except the employees miss it, if it was put down? I doubt it. But I suspect most of the good employees have already left the bank.

February 2, 2013 - Posted by AnonW | Business, Finance & Investment | Banks, RBS