Tuesday, 23 November 2010

RBS and pain.

As the latest news on the Royal Bank of Scotland fills us with yet more angst I have to declare an interest.My first husband also called David was a bank manager in what was then Nat West. It was a good organisation to work for in that it looked after its staff and opportunities for advancement came fairly easily for anyone with half a brain.
My husband enjoyed his time with Nat West and became quite senior. He saved diligently for his old age and the way he did that was to buy shares in the company. These shares would, he told me give us a comfortable old age and some luxury. When his colleagues were spending their bonuses on luxury cruises he was buying more shares.
He retired at 55 and had a massive heart attack at 57 and died. His clothes for the cruise were in the wardrobe at the time, never used. I gave them all to an Italian builder who worked for me for a while.
Now I feel its just as well he did not live to see the steady decline of the bank he'd worked for all his life. Nat West got taken over by RBS and he would not have liked that much but what happened later when it had to be rescued and nationalised would have sent him apoplectic!
I still have the shares, now virtually worthless...thousands of them. His children will inherit them eventually but I fear that everything David worked so hard for has gone and will not be coming back.
I am alright...I am a non stipendiary priest with no need for a vast fortune...but there are plenty of people who did the same thing as David, I am still in touch with some of them and they feel betrayed and very very angry. But at the same time as they acknowledge their impotency they are growing before my eyes. Pain does that to you.



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