Nationalist MSP Christine Grahame has asked Lothian and Borders Police to investigate RBS.
The bank, now under nearly 70% ownership by the UK Government, recently revealed it was expected to report a deficit before write-downs of between £7bn and £8bn for 2008.
Ms Grahame, a South of Scotland MSP, argued the state of the bank's finances should have known at the time it made a £12bn rights issue last April.
Somewhere in the depths of its Fettes HQ, some poor Mr Plod is studying all the paperwork associated with the rights issue. Never mind that this paperwork is routinely crawled over by batteries of expensive lawyers in order to ensure that it complies with stock exchange rules - we are talking £12 billion here. And, OK, this rights issue stuff can be complicated - we are talking massive volumes of paper. Admittedly, the experts in the form of the FSA have a rather doubtful record in terms of brining anyone to book for financial misdemeanours. And, even though the local rozzers are less than experienced in matters of high finance, Ms Grahame must think that they can get a result.
Still, there should some overtime in it.
3 comments:
Oh you are a cynic HW. Then again, so am I.
"Ms Grahame must think that they can get a result."
Hardly.
Ms "Dingbat" Grahame must think she can get a cheap headline out of it.
At least this one is marginally less barmy than some of her other wheezes, i.e. AC/DC and Mary's corpse.
Aye a Scottish Government budget of £33 Billion Pounds.
Imagine Scotland having an additional £12 Billion that it currently gives to LONDON not SCOTLAND.
Scottish Oil is worth £22,831 a minute, £32 million a day, 12 billion a year
With this money any Scottish Government could afford to fund the building of
2 High Schools or 16 wind turbines a day with it's VAST oil revenue.
In 66 days Scotland's oil money could pay for rebuilding all Scotland's High Schools or in 16 days the World's largest wind farm! or it could fund building;
256 two bedroom houses a day to solve Scotland's chronic housing problems.
North Sea Oil will last for another 100 years according to industry anaylists
visit http://www.oilofscotland.org
for more fact figures secrets and scandals
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