Anyone Else Smell a Rat? (Not I'm A Celebrity).

So as I understand it the Royal Bank of Scotland owns a substantial portion of a total of 167 Billion pounds Sterling, yup quite a large lunch that, in overseas, mostly toxic, debt. But what is interesting about this story (as opposed to downright depressing) is this snippet "Similarly striking is the fact that in almost all of the asset classes, the majority of the loans now being supported by the taxpayer were made only very recently, some of them in 2008, only months before the bank was semi-nationalised."

Now you may call me a cynic but considering this is the Royal Bank of Scotland and as we know senior members of our government (for want of a better word) hail from that, actually very pleasant, part of the UK, doesn't it seem mildly coincidental that a lot of these debts were ramped up by the bank, just before it rolled over and swallowed all that lovely taxpayer funding?

Likewise isn't it nice to know that whilst Lloyds Banking Group has returned a large portion of wonga to the Treasury, the Royal Bank of Scotland, is paying it back. When would of course be nice to know, but I doubt we'll find that out during this parliament.

If it looks like a rat and smells like a rat, it probably is a rat.