Tuesday 31 July 2018

Don't You Just Wish You Were A Bank?

RBS (The Royal Bank Of Scotland) are not too popular with Scottish business owners.

A section of RBS known as the Global Restructuring Group (GRG) was supposed to help small businesses but, instead, they allegedly exploited these small businesses and forced many to the brink of collapse...just so they could profit from their demise by selling off their properties.


Unsurprisingly, RBS denied the claims (well they would wouldn't they).

But it doesn't end there. The plot thickens.

RBS have curiously been quoted as saying they are "deeply sorry" for their treatment of businesses in the GRG...and the disgraced GRG has now been disbanded.

Also, RBS have set aside £400 million to compensate thousands of small businesses in the GRG.

And if that's not enough already, nearly 400 cases have been settled so far and RBS has offered £115 million in refunds for fees charged by GRG.

Call me a skeptic, but I'm pretty sure RBS wouldn't be throwing almost half a billion quid at this little 'problem' if it wasn't pretty clear that they were in the wrong for the way they acted regarding their treatment of small businesses in their GRG.

So, when can we see RBS managers in jail?

Ehhh...we won't.

Because no-one at RBS will be prosecuted over this scandal.

The Scottish Crown Office & Procurator Fiscal Service have stated that "there is insufficient evidence of criminal conduct" and that there is "no basis for criminal action".

In the meantime, if you, a normally law-abiding member of the Scottish public, forget to tax your motor vehicle or drive at 35mph in a 30mph zone, the Crown Office will have you prosecuted in court quicker than you can say "Fred The Shred".

Ahhh, who'd have thought that a decade after the good ole' financial crisis of 2008, the Royal Bank Of Scotland would still be the gift that just keeps giving...especially if you're a banker and those gifts are billions of pounds and a get-out-of-jail free card from your buddies in the COPFS.

Don't you just wish you were a banker.