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Held to ransom by the bankers: Bosses at RBS (Yes, YOU own it) threaten to quit if they can't dole out huge bonuses

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Royal Bank of Scotland directors were accused of holding taxpayers to ransom last night over plans to pay huge bonuses. The board has threatened to resign en masse if the Treasury blocks the payments. The row is over an estimated £1.5billion bonus pool for staff at the investment arm of the bank, which is largely owned by the public.

 

The pool is around 50 per cent bigger than last year and would give 20,000 bankers the equivalent of three times the national average salary each.

The Treasury has demanded a veto, following the taxpayers' £45billion bailout of the Edinburgh institution, but board members say their lawyers tell them they would have to resign if they lost the power to set pay levels.

 

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why wait for them to quit, sack em


PGH7447

 

 

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Advice is given freely but is in no way meant to be taken as Gospel:-)

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No nononono, PGH. If they quit, they're not entitled to the dole! Much better! :razz:

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The board has threatened to resign en masse if the Treasury blocks the payments.

 

I bet this spineless government gives in.

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