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RBS - Spending our money.

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This does not make any damn sense what so ever....Hat tip to malcintheburgh for the story on bank fiscal fuckwittery.

The Royal Bank of Scotland has agreed to extend its sponsorship of the Six Nations tournament until 2013.

Talks over the renewal of the contract - worth about £20m - began with the IRB after last year's championship.

The news comes just days after the bank's shares lost 67% of their value as it prepared to disclose a record loss of several billion pounds.

The news will be officially announced at the media launch of this year's competition on Wednesday.

RBS has sponsored the tournament since 2003 and the new four-year contract will begin after this year's tournament.

An RBS spokesperson told BBC Sport: "We have been in discussion with the Six Nations Committee about the renewal of the title sponsorship and agreed to extend this through to 2013.

"Talks about a new contract worth around £20m had begun after last year's championship and an agreement has now been reached.

"The RBS 6 Nations sponsorship has been selected to meet very specific business objectives within the six competing nations."

Right so RBS which has been bailed out by taxpayers money and some 70% of which is owned by all of us, is wasting £20 million quid of our money(okay -30% off that for pedants out there) on sponsorship of a sporting event.

Should they not be thinking of reforming their business practises, opening up their books to disclose all the toxic debts on the books oh and paying back the taxpayers of this land the monies owed and loaned to them by us.

How long, O Cyclops, will you abuse our patience? How long is that madness of yours still to mock us? When is there to be an end of that unbridled audacity of yours?

Labour & their champagne swilling backers all part of a nomenklatura supporting a leader out of touch with reality.

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