RBS: a wounded giant
A few figures about RBS, which is on the brinks of collapse (it would already have without government's support): - Assets : £1.9 trillion - Liabilities: £1.8 trillion This makes it the World largest company by assets. By comparison, its assets represent more than the GDP of France! Nationalizing it, which appears likely to be the only solution considering further asset depreciation and continuing recession, would more than double the public debt of the United Kingdom. Ouch! At the time when they were buying ABN Amro, I was wondering how they could afford it while I was witnessing other banks downsizing. Well I have the answer now: they simply could not...