Today RBS announces its exit of the APS (Asset Protection Scheme.)
We the public have helped to save the skins of RBS shareholders and bondholders and have received a paltry 5bn over five years for having insured £282bn at a time when no business on earth would have considered doing so for the same money and the same unclarified risk.
That is the Balls up you inevitably get when you let any government run a business. It is my opinion that we have undercharged the bank by some £45bn at a minimum and possibly much more than that.
It seems that the more zeros they put at the end the less the public, and the governments, understand
What interest rate is RBS charging you? Less than 1%, I doubt it.