British Public Pays for the Sins of its Bankers
Modern Banking It appears that before the financial crisis a few years ago the Royal bank of Scotland was indulging itself in risky investment gambling. It is a really fun game where bankers in nice white shirts and bright ties play on a computer screen for huge profits. Mind you there is no stress of risk. They gamble with our money. They are smart and talented at the game and therefore win most times. The winnings are distributed under the name of a bonus that is on top of their already hefty salaries for coming in every day to the bank to play the game. But guess what, gambling is gambling and does involve the risk of losing. When they lost heavily before the financial crisis the poor fellows were consoled by their bosses by giving them a bonus anyway, albeit a smaller one. The losses suffered by the bank as a whole were made up by the British Public. The government as a result has ended up with a bigger deficit that they are making up by cutting public programs ...