RBS Bonus Watch '11: David Cameron Is Thinking About Trying Something New This Year


It's called you'll get nothing and you'll like it.

U.K. Prime Minister David Cameron said he will stop Royal Bank of Scotland Group from paying a reported 500 million pounds ($800 million) in bonuses to investment bankers this year. “We can stop the 500 million, yes, absolutely,” Cameron said in an interview on BBC Radio 2 today. “That is not the agreed figure. That’s a proposal I’ve read about in the newspapers.” The Sunday Times reported the 500 million-pound figure on Nov. 6.

Cameron Says He’ll Stop $800M in Bonuses at RBS [Bloomberg]


RBS Is Gonna Try Something New

For the last seven years, the bank has reported an annual loss. Unhappy with this outcome, the upper echelons of management apparently put their heads together and said, "What if every time we had an impulse to do one thing, we did the opposite?"