The Washington Times - January 20, 2009, 07:16AM

The Royal Bank of Scotland, one of Great Britain’s largest banks, is on the verge of nationalization, the Telegraph is reporting.

The bank’s stock prices fell 65% after it was revealed the bank had lost $56 billion in 2008, the largest loss in Britain’s banking history.


Excuse me, but how is it that a bank named the “Royal Bank of Scotland” isn’t already nationalized?

It looks like the Royal Bank of Scotland has learned a few things from the Yanks — how to advertise and how to lose money.