RBS Bailout Money Found

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It's no wonder RBS couldn't meet its lending quotas. Instead of attending to its penance of making forced loans, RBS was busy acting as a bailout funds pass-through SPV for its auditor's benefit. Having closely scrutinized and signed off on RBS's books throughout the lending binge, Deloitte pulled in just under £60 million last year from the bank, close to double the year before, for its reinvigorated efforts to ensure UK taxpayer money is safe. Between this incident and the AIG fee bonanza, it's been a decent year for half of the Big 4.

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