British taxpayer may soon own 95% of bank
(NEWSER) - The Royal Bank of Scotland today announced an annual loss of $34.3 billion, the largest in British corporate history, and the Treasury said it would inject another $36 billion into the troubled bank. The UK government already owns 70% of RBS, a figure that could now rise to 95%, reports the Times of London. Much of today's loss stems from RBS' purchase of ABN Amro, the Dutch bank it bought in 2007 in the largest ever banking takeover. More»
