Posted by AdviserDirect on 05/16/2019

RBS: Yet more taxpayers’ cash goes to pay for bankers’ misdeeds

RBS: Yet more taxpayers’ cash goes to pay for bankers’ misdeeds

Brexit is a disaster, but given what has gone on at RBS, is it any wonder some people took the opportunity presented by the EU referendum to kick at what they see as the ‘one rule for us and one rule for them’ presided over by the establishment? 

RBS, Brexit and yet more taxpayers cash going down the drain as a result of the misdeeds and mistakes of bankers. No, this is not click bait. There is a link. 

Let me explain. 

RBS has just set up a £400m compensation fund for small businesses thrown to the wolves of its now defunct Global Restructuring Group (GRG). 

GRG was the operation set up to deal with struggling business borrowers that Lawrence Tomlinson, former entrepreneur in residence at Vince Cable’s Department for Business, Innovation and Skills, claimed had pushed viable firms to the wall for profit in an incendiary report. 

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