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OK so the bank was turned around by Rose, now fired over a rather stupid privacy law violation, and the stake is sold off cheap?
That's our money that's being pissed up the wall.
JWestland-
And no surprises whose donors will have made a killing on it.
I don't think it was manufactured, just opportunistic. But I also don't think it would have been in the news that long had they not been raking it in.
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now fired over a rather stupid privacy law violation
It's a pretty bad privacy law violation to be honest. If someone lower down the chain had done that then they would have a very good chance of being sacked.
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The selling off at a massive loss is hardly news and the current problem is a drop in the ocean there. The Government bought RBS shares in 2008 when they were trading at £5, after their implosion. And they have sold off various tranches around market rate, which has remained far lower, accepting it is extremely unlikely to ever recover.
Traders (and remember Farage used to be one) profiting on this price dip is a separate issue.
However, it is not a stupid privacy law violation, and absolutely a resigning matter, however much you and I hate Farage; he is 100% right on this specific issue unfortunately (quote selectively for golf club).
I have some personal interest in this as I worked on privacy breach triage/handling processes, and other Compliance controls at RBS/NW. I no longer work there.
c00ps
aggi
chez_jay
But the government stake was bought at £5, and all their sales have been at a massive discount. Recent one about £2.50.