Once fully privatised, why should the Royal Bank of Scotland behave differently than in the past?
They’ve learnt that what they did in the past loses squillions.
We do all agree that private sector banks are run by greedy bastard capitalists, yes?
And greedy bastard capitalists like to make money, not lose it?
Quite, so they may well find interesting new ways of losing money in the future but they’re not going to do again what they did, are they?
The one major banking institution that did not take taxpayers’ money – and which, instead, helped rescue others that failed – was Nationwide building society. And it was the only major institution not on the stock market.
And a number of mutuals went under as well. It ain’t quite as clear as you’re making out.