The Royal Bank of Scotland has become the leading symbol of the U.K.'s banking crisis. RBS announced more big losses this week yet still found room to award its employees almost $2.5 billion in bonuses. That has sparked a good deal of outrage. The bank's rationale for the bonuses is similar to what many U.S. banks have said to justify big payouts.
All Posts Tagged With: "banks"
Roben Farzad of BusinessWeek discusses the economic fluctuations in Britain, across Europe and elsewhere. He explains how Britain and the UK face identity crises in determining what they can do to dig out of the economic crisis.
Peter Coy of BusinessWeek magazine discusses how major world markets responded to the Obama administration's bank rescue plan and foreign banks being bailed out by U.S. taxpayers.