Once fully privatised,why should the Royal Bank of Scotland behave differently than in the past? [br]The truly depressing thing approximately this week’s £2bn RBS shares sell-off is not that it was an underpriced giveaway to the City (though it probably was) but that we can’t think of banking in any other way than rescuing them when they depart wrong, then handing them back to private hands when it’s going legal.
Labour’s tepid response has been to criticise the share price achieved, or suggesting whether only the chancellor held on a bit longer he might achieve a better price. It’s classic “Tory lite” stuff. Labour would still sell shares in RBS,but would do it better. Support Labour because it will be better at guessing where RBS shares will be next week, next month or next year? It’s nonsense.
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Source: theguardian.com