Royal Bank of Scotland claims record deficit for a British company

Thursday, February 26, 2009

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After struggling to remain afloat, RBS posted a record deficit and continues to downsize its operations (Flickr user 0olong (cc: by-nc-sa))

The Royal Bank of Scotland has announced the largest annual loss in corporate history in the United Kingdom. The Royal Bank of Scotland said it will insure assets worth 325 billion pounds, or $462 billion, with the British government, who owns two-thirds of the bank. This comes after RBS. nearly collapsed during the credit crisis and needed British taxpayer's money to stay afloat. Andrew Walker, BBC economics correspondent, joins us now to talk about how this compares to the situation banks in the U.S. are facing.

Hosted by:

Jerome Vaughn

Contributors:

Sitara Nieves and Andrew Walker

Comments [2]

svosve from zimbabwe

l wanted to help some one in a refugee camp in senegal . name of the person is mr samuel kayon doe he says accout numebr is wt 10058703459 beneficiary ms blessing samuel k doe so l wanted to you to tell me if its true

Jan. 23 2010 02:18 AM

Score: 0/0

Sam

There's no link to the audio file here. And, by the way, it's RBS, not R.B.S.

Feb. 27 2009 12:18 AM

Score: 0/0

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