If we were to tell you that you are a shareholder in a British bank you might be surprised. If we were to mention that that bank has been consistently running at a loss for a decade you may begin to worry about your investment. If we then said the organisation you’re invested in is accused of asset stripping compromised businesses to make a quick buck you probably wouldn’t believe us. Joining us to discuss RBS’ recent return to profit and whether it is now going to repay the British taxpayers is businessman, RBS victim and former CEO of Torex Retail PLC, Neil Mitchell.
The Royal Bank of Scotland was bailed out to the tune of $45 billion – in return, the managers systematically ripped off their own customers and undermined the British economy. After hearing countless accounts in the House of Commons last week about how business owners were deliberately and systematically bankrupted and then left to, by its own words, “hang themselves”, the government announced its intention to do… well, nothing.