Royal Bank of Scotland, the same people who sacked 15,000 staff worldwide last year, are set to hand £4bn in bonuses- mainly to its investment banking arm....
Remember that, following last year's bail-out, 70% of RBS is owned by the taxpayer. That means that the taxpayer will foot the bill for 70% (£2.8bn) of those bonuses.
Two weeks ago, at the Conservative Party conference, George Osborne showed us where his priorities are as he reminded us that "we're-all-in-this-together", unveiling his urgent plans to reform incapacity benefits that would save "more than £1bn over the next Parliament".
This is while 65,000 homes will have been repossessed by the end of 2009, and while tens of thousands of people are seeing their final salary pension schemes slashed and mangled because of City investments going tits up.
At RBS they're all-in-this-together alright.
Courtesy of Hagley Road To Ladywood and The Independent on Sunday Risks nationalized, profits privatized, bubbly all round in the board room ... are you feeling the warm glow of solidarity yet?
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