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$1.47 billion bank bonus prompts UK outrage (Reuters)
Internal Administrator
Posted: Saturday, August 13, 2011
Joined: 10/12/2010
Posts: 5780

Posted: 2/9/2009 8:45:26 AM

By: Pay me my big fat bonus now

LONDON (Reuters) – Reports that the Royal Bank of Scotland (RBS) was about to award its staff a billion pounds in bonuses prompted outrage in Britain on Sunday at a time of soaring unemployment and with a deep recession looming.

RBS required a 20-billion-pound government bail-out to stay afloat last year and is now nearly 70-percent state-owned.

Speaking on a BBC chatshow, Darling said he had discussed this with RBS chief executive Stephen Hester.

"He agrees that no one who is associated with these large losses should be allowed to walk away with large cash bonuses," Darling said.


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