RBS board threaten to quit

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BBC - Peston's Picks: RBS board to quit if chancellor vetoes £1.5bn in bonuses.

The directors of Royal Bank of Scotland have been given legal advice that they would have to resign if the chancellor of the exchequer were to block them from paying the bonuses they regard as essential to maintain the competitiveness of the group.

Let them go, I say.

Can the be replaced? I quote Polly Toynbee:

Appoint the Richard Murphys, Will Huttons and Larry Elliotts not as City tsars but as City Savonarolas to flush out tax avoidance and evasion, to close down tax havens, to appoint honest non-executives to company boardrooms and institute a regime built on public trust.

OK, drop me if you like - just do the other two, plus Prem Sikka and Adam Lent, Roger Bootle and one or two others.

But yes, they can be replaced. And we'd have been a lot better off if they had been a year ago.