Royal Bank of Scotland (RBS) has announced losses for 2009 of £3.6bn ($5.5bn), after struggling with billions of pounds of bad loans.

Despite the losses, the bank is set to announce it will pay bonuses totalling £1.3bn to its staff. BBC.

It’s nice to see RBS can lose £3.6bn and still pay its poor bankers a £1.6bn bonus whilst the rest of us are left to struggle with swinging government cut backs. The head of the bank Stephen Hester seems to think it would have made more money as the bank had lost its best staff by not paying bonuses – quite honestly I’ve seen enough of their best staff to last a lifetime – goodbye and good riddance.