What about the next fat pigs?
Face it, he played his hand well and made a lot of money. In theory his self interest and RBS self interest are supposed to be the same, but the 'light touch regulation' makes a joke of that.
Bank of England is doing quantitative easing. i.e. printing money to buy company bonds at inflated prices.
So a company is going under, it needs money, but it cannot sell its bonds to raise more money, the banks do not expect it to stay in business and will not lend it money, but the Bank of England will lend it this quantitative easing money.
If you were the CEO or Chairman of such a company, and received Bank of England money for your bonds, would you
a) find a way to turn the company around and go for the long term benefit of yourself and the company of staying in business (knowing that it will at best be a sick bed company burdened with debt) or
b) recognize that the money just delays the inevitable failure, and try to get as much out as possible in rewards and bonuses and retirement fees as possible now.
As soon as money starts being lent for non commercial reasons, there is no need to make a return on it, and so no reason to ensure value for money for it. It's a big trough with a lot of fat pigs about to feed big time on it.
Everyone in the company at board level will understand that option a) is a non starter, so nobody will object to all the noses in the trough as long as they get their nose in there too.
So expect to see a lot more similar oink oink stories resulting from this queasy money.