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The U.K.'s top 5 banks - RBS, BCS,LYG, HBC, SCBFF.PK - have £40B in undeclared losses,...

The U.K.'s top 5 banks - RBS, BCS,LYG, HBC, SCBFF.PK - have £40B in undeclared losses, according to PIRC, which says the accounts have been flattered by a 2005 change in accounting standards. The result is dividends and bonuses being paid out on profits that aren't there. Worst is RBS, which could potentially need another bailout if the losses were declared.
Comments (3)
  • lalo12345678
    , contributor
    Comments (4) | Send Message
     
    I dont know what to do I am loosing a lot of money on the preferred RBS
    I whish to have some advice on this matter !!!!!
    5 Jun 2012, 05:55 PM Reply Like
  • bsorge
    , contributor
    Comments (696) | Send Message
     
    It would be nice if what PIRC stands for was spelled out. Difficult to evaluate this article on information provided.
    5 Jun 2012, 07:58 PM Reply Like
  • Shawn G
    , contributor
    Comments (211) | Send Message
     
    Banks are disputing this report: http://bit.ly/NqIEaF
    10 Jun 2012, 10:43 AM Reply Like
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