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The Royal Bank of Scotland Group (NYSE:RBS): Current price $9.36
Appearing before the Banking Standards Commission, Bank of England Governor Sir Mervyn King said that “the legacy problem of RBS’ balance sheet has had a macro effect on the United Kingdom,” adding that the measures taken in 2008 and 2009 were needed to recapitalize the banking system, and taking it into public ownership was the method by which it could be recapped and sold back to the private sector. However, Sir Mervyn commented that a decisive approach is required to recapitalize and restructure the bank, and that RBS has assets that are likely to generate continuing losses and need to be separated into a ‘bad bank.’
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