Thursday, February 2, 2012

Former RBS Boss Stripped of Knighthood

He received for services to banking because he helped throw the UK into the biggest recession in six decades. Here's the chain of events: bank makes poor decisions; bank fails; helps create financial recession which causes major recession. You can start by reading the executive summary of the FSA report.

It should help you figure out that there must be an optimal size for the banking sector. More on this later.

1 comment:

akagugo said...

Barclays going for same?
Whatever comes to your mind will be a euphemism when you try to correlate the size of profits declared by our local banks with the bonusses that they could be paying out... Alas, we'll never know.