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Lost £4.66 Billion
http://www.bloomberg.com/apps/news?p...d=aNof7rn6_frM
Paid out £1.3 Billion in Bone-us!
Mike
http://www.bloomberg.com/apps/news?p...d=aNof7rn6_frM
Paid out £1.3 Billion in Bone-us!
Mike
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Re: Royal Bank of Scotland....Big news
I just watched the movie "Donnie Darko" so this story fits in well.
We are living in a Tangent Universe and we need to close it. These aberrations are a signal of its existence.
We need to get back to the Primary Universe where all is Normal
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Re: Royal Bank of Scotland....Big news
Thankfully, don is leading us there on a thread he started here...Originally posted by Shakespear View PostI just watched the movie "Donnie Darko" so this story fits in well.
We are living in a Tangent Universe and we need to close it. These aberrations are a signal of its existence.
We need to get back to the Primary Universe where all is Normal
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RBS paid £1.3bn bonuses on profit of just £1bn...
The FIRE economy lives! And State ownership makes no difference...Originally posted by Mega View Post
RBS paid £1.3bn bonuses on profit of just £1bn
Royal Bank of Scotland paid its investment bankers £1.3bn in bonuses for making just £1bn in profit last year, not the record £5.7bn declared last week.
Published: 9:41PM GMT 28 Feb 2010
The state-backed lender's results show that £4.7bn of the investment bank's worst losses were hived off to the "non-core" division being wound down. Although the bank's split into "core" and "non-core" units has been well explained, the separation generously flattered the investment bank's numbers and allowed management to present it as a record year for the division.
Stephen Hester, chief executive, used the performance to justify the £1.3bn bonuses paid to investment bankers, at least 100 of which received more than £1m...
...RBS's revised profit numbers make no difference to its industry-best 27pc compensation-to-income ratio – the standard comparator for bonus practices. The ratio takes no account of loans that turn sour, only the income generated.
RBS did not dispute the analysis but declined to comment...
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