Peter Mandelson The Business Secretary intervened regarding the issuing of bonuses for RBS executives in a couple of weeks time.
As my previous post says the general public will be nothing less than outraged if said bonuses are awarded to traders, whose risky portfolios contributed to the bank now being 68% owned by the state.
Sir Philip Hampton ex-Sainsburys boss, has a tough job ahead of him. 7 executives have retired making way for the his new team.
Its amazing that greed and the use of ill understood derivatives could lead to such a mess and even more astounding that this high risk strategy went unchecked.
Friday, February 6, 2009
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