Despite extended hours held by the bank and reassurances by RBS that many of the systems that have been downed are now operational, the “IT problems” at RBS continue into its TENTH DAY, prompting RBS chief executive Stephen Hester to forego his £2.4 million bonus for the year, which I’m sure is significantly less than the under the table payment he receives for being a lower management figurehead slave.
“I think it is inappropriate for me to have a bonus this year. We have let our customers down. That may have arisen from old systems and things that were from before my time, but I think we could reasonably have been expected to have improved things since then and clearly we didn’t improve them enough,” Hester said.
That’s putting it lightly. The bank is currently the target of a record breaking £290 million fine for manipulating interest rates. Further, the Financial Services Authority named RBS as a bank that missells complex financial instruments to small business customers, which is basically a government agency calling a big bank a crook and ripoff artist.
Supposedly, the “computer backlog” caused by a “software upgrade” will be addressed Saturday, and many problems are allegedly resolved – 99 percent of accounts are “up to date”, but customers are still experiencing difficulties and missing funds in large numbers, so I guess that means RBS has several billion customers or they’re lying, but hey, don’t blame me, blame duality!
Story is HERE.
RBS has computer glitches while random computer programs steal billions in funds. All I’m saying is that it’s a possibility, that’s all.
Reading the news feed about RBS will make you scratch your head. Either the bank is going through the biggest bad luck streak ever or something is up. Considering that the big banks are up to no good as a condition of existing, I suspect RBS has made some bad bets, made some bad moves, or crossed the wrong people or a combination of everything I just mentioned. Something is wrong, and news stories like this just don’t end like this.
I’m not waiting for doom and gloom and for people to become bankrupted and desperate, but what I am expecting is an increasingly street smart population that’s waking up to the reality that the Matrix is crumbling. I suspect the depositors at RBS don’t want to hear anymore mainstream news explanations of what’s happening, because they are the ones that can’t access a single dollar, but are told to be patient. This means RBS will lose millions, if not billions in consumer deposits once these angry customers get access to their money again. This is not money RBS can afford to just lose, because every European bank is starving for capital, and that’s the one thing they have less of every day.