Thursday, April 2, 2009

RBS Stormed

Royal Bank of Scotland (RBS) has had a horrible year, with its stock falling from 154 to 7.29 within just a few months. It was the largest bank in UK after Hong Kong and Shanghai Banking Corporation (HSBC) but it is now the smallest of the "Big Four UK Bank" with Barclays Bank taking over its number two spot and the newly founded Lloyds Banking Group (founded with the merging of Lloyds TSB and HBOS in January 2009) advance to number three. It was on the verge of bankruptcy and almost insolvent. But this is the ultimate insult. Their building in London was smashed and invaded by anarchist protestors.

Demonstrators broke windows at the RBS branch in Threadneedle Street, threw missiles and smoke bombs and some forced their way inside. The building was daubed with graffiti, including the slogan "thieves", and activists vandalised the branch, throwing out computers, chairs and office equipment.











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