Bad lending
It needs to be made plain to the banks – publicly owned – and politicians that a return to sensible core practice is necessary.
The economics of trade underpin the traditions of these islands and have created the wealth that made a welfare state possible.
Advertisement
Hide AdAdvertisement
Hide AdIf RBS had made good on both loans – and honoured its word – it would likely have got all the money back and some profit. Good core business.
It also seems to me that RBS needs to wake up. Still, I cannot help thinking there is something intrinsically wrong with that organisation. Lending successfully is a bank's core business. That is how they make money.
Squandering profit on huge bonuses that amount to billions of pounds seems to me, as a taxpayer and part-owner of that bank, very wrong. While RBS is state-owned such bonuses, which are part of the public purse, could be better spent paying off the largest public deficit these islands have had in recent decades.
KES SMITH
Old Inn Rd
Aberdeen