2009-03-02 — ft.com
I have used the Monty Python parrot sketch before in this blog, so I will not drag it out again, but there is no doubt that RBS is a dead bank. It isn’t even a dead bank walking any longer - more a dead bank stumbling and fumbling around. The government should stop playing ostrich, extract its head from the sand, observe that RBS is no longer viable and either nationalise it or make it the first bank to enjoy the rigours of the Special Resolution Regime for banks created earlier this month in the new Banking Act. Through the SRR it could even implement the ‘good bank’ solution for RBS.
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