And it isn't the Bank of Scotland, it's RBS, an almost wholly owned entity of the British government, and a very poorly performing investment so it's not entirely clear why any bonuses for top management are deserved at all.
With its 83 per cent stake in RBS, the British taxpayer now has an opportunity to demonstrate the kind of shareholder activism that Mr Cameron has been invoking; the bank’s share price has fallen 43 per cent in a year, wiping £11bn off its market value.