´óÏó´«Ã½

Douglas,

Your references to the risk analysis section of the RBS annual report had me falling off the couch.

"Limits on bonuses will lose them key staff"

You could not make it up.

Thanks for the laugh.


BTB
Much prefer your studied analysis of the current ecomomic problems than the self serving Peston blog south of the border, despite your narrower remit.

A little bit off topic but can I enquire how the current economic tsunami is having an effect in Broughty Ferry.

I spent many happy years there as a child when I was despatched from the West Riding on the "Dundee Express" into the arms of my Aunt who was a Salvation Army Officer at the time.

It was a jolly time in my life. Trips out to Arbroath and Brechin come to mind.

There was also an outstanding ice ceam parlour opposite the Salvation Army headquarters in the Dundee main street.

Hope all is well in Broughty Ferry.

So in summary:

1. In one of the biggest banks in Britain, no one had a clue what was going on.

2. The directors were incompetent and they're still being paid huge salaries.

3. After several bank failures and every bank in the UK in trouble the bank analysts/management/executives are still delusional about their abilities and what they're worth.

4. The Government can't openly guarantee the bank because the political fallout from the scale of the risk would be enormous but they've pumped in so much money in a blind panic they now can't let the bank fail.

5. The Government have no other strategy but to keep pumping money into the banks.

This comment was removed because the moderators found it broke the house rules. Explain.

"The cost of hiring new chiefs is one of the problems with getting heads to roll, as the government insisted with their now notorious predecessors in October - just try hiring someone who knows what she/he is doing, reassures the market, and is willing to have a whole lot of public opprobrium dumped on them, and you won't find they come cheaply."

This kind of convoluted English makes me wonder if the ´óÏó´«Ã½ employs sub-editors these days.

The whole extract above is a single sentence. Douglas Fraser clearly went to a sub-standard school. Congratulations to him for achieving such progress in his career despite that terrible start in life.

My comment at 11.33am pointed out the poor standard of English in the 4th paragraph without being rude or offensive. It has been moderated for some reason. Does the ´óÏó´«Ã½ now censor any criticism?
Surely we who pay the license fee are entitled to point out when standards at ´óÏó´«Ã½ are not met?

Nobody likes a bad loser, straighttalk1 :-)

The truth is our comments make us feel a little better, but will make no difference re. the falling standards of journalism at ´óÏó´«Ã½ Scotland.

Ten secrets of highly innefective bankers.

First :- get rid of anyone who knows what they are doing, i.e. oldfashioned bank managers and tellers.

Second:- turn all staff into salespeople.

Third:- run your bank with non-bankers, bully them if need be, ignore high tirnover of staff and put as many as possible in call centres.

Fourth:- make it so complicated that no one knows what is really going on.

Fifth:- Wait for hampster to die and wheel to stop spinning.

Sixth:- collect knighthood, obscene amounts of money and staggering pension along the way.

Seventh:- Ignore distress and hardship caused to customers, former staff, the tax payer, and worst of all charities who rely on savings and investment income. Yes lives could be cost by despicable greed.

Eighth:- Await state handout, blame everyone else.

Ninth:- bring in 2 new men at the top circa £2 million per annum, minimum.

Tenth:- start all over again.