Unlike Lloyds, where the Government has been steadily selling shares it acquired when the bank had to be rescued in 2008, RBS remains 80% owned by the public. Despite a drastic pruning of its balance sheet and the sale of non-core businesses, its stock price is still substantially below the level at which taxpayers, who funded the £45 billion recapitalisation of the bank, would get their money back.
Category: Ethical finance
The Archbishop of Canterbury said it and was ignored, now Vince Cable’s “Enterpreneur in Residence” has repeated it. RBS and Lloyds are too big and have too dominant a share of the UK banking market to enable a healthy economy to grow: they should be broken up now.
It is not enough to make me change my views on religion (any religion), but Justin Welby, the Archbishop of Canterbury, continues to surprise and impress.