Banking system eats itself
Nov 4 2009 07:10
Chancellor Alistair Darling announced that an astonishing £33.5bn in cash and debt guarantees will be given to the Royal Bank of Scotland (RBS) - on top of the £20 billion the taxpayer has already handed over - to make the RBS bailout the costliest bank rescue in history.
While RBS bosses have already announced huge cuts to front-line bank staff which will mean 3,700 people losing their jobs.