Summary
GOVERNMENT ownership of the banks was never going to be easy. All the bad things that banks do, from repossessing houses to doubling the pension of former directors behind closed doors to sacking staff, are certain to cause embarrassment.
So having barely escaped from the crisis over Sir Fred Goodwin's pension, the government now faces the alarming prospect of a bank, in which UK Financial Investments has a 70pc stake, sacking 9,000 people worldwide.See the full content of this document
Extract
Rbs Job Losses Just the Start ; Comment
These events explain why in many ways it is better for the government that the banks are managed at arm's ...
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