Outrage as hedge funds make millions from bargain self-off of taxpayers’ RBS shares

‘The taxpayer lost out on millions after George Osborne allowed hedge funds to gamble on Royal Bank of Scotland shares after sell-off plans were leaked, it has been claimed.

Investors are thought to have generated profits of more than £10 million after gambling on RBS shares falling in price – increasing taxpayers’ already eye-watering losses.

The Chancellor has come in for harsh criticism for selling off 5.4 per cent of the government’s share in the banking giant at a £1.1 billion loss, and the number of RBS shares being ‘shorted’ by traders sharply increased between the publication of RBS’s yearly results on Thursday and the government share sale on Monday.’

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