[Edited:'dead' image removed] RBS chief Stephen Hester's decision not to take a bonus had become inevitable but "This sorry RBS saga isn’t over yet" [City A.M.]. Order-order highlights the obvious immediate result (click on image) with £320m wiped off RBS's value: "With mob mentality over-ruling contracts, there are obvious jitters around the banks this morning." Guido reiterates what I hinted at yesterday, "[despite] the glaring hypocrisy of sitting in the cabinet that drew up Hester’s contract, this is a short-term political win for Miliband". More amusingly we have: PM "moves to avert resignations at RBS over bonus restrictions" ...[link] (hehehe).
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