Friday 27 January 2012

Down As Well As Up

What are Stephen Hester's shares really worth? There is no serious intention of ever returning RBS to the private sector, and it is high time that that was said out loud.

More than three hundred years after the creation of the Royal Mail, Margaret Thatcher insisted that it could never be privatised, "because it's Royal".

Three hundred years hence, people will be saying the same thing about the Royal Bank of Scotland.

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