So, RBS is to pay massive fines over their part in attempting to rig LIBOR, as reported by the BBC:
Libor scandal: RBS fined £390m
[link opens in new window]
So the question is, after the last Government [Labour] put in £45bn to save RBS from failing, are Taxpayers going to pay the RBS fines as well? The Government want all the fines to come from their bonus pot. If the fines are paid from this then the bankers 'get it' and are making a cultural change to their business. If they do not cover the fines from their bonus pot then they still will be the "lying, cheating, thieves" as described by a Government Minister.
I await what is done with interest.
As a footnote. How do we think Scotland on its own would have coped with the RBS failure? We are stronger together, we are stronger as a United Kingdom.
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