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The Royal Bank of Scotland and its majority shareholder, the U.K. government, have agreed to a new bonus system, which RBS directors and executives can&#39;t be too happy about. The new deal includes no bonuses this year for any RBS employee who had anything to do with major losses in 2008, a 90 percent reduction of the 2009 bonus pool, and a pay freeze.&lt;p&gt;In other not-so-cheery RBS news, over the weekend reports surfaced about the bank considering cutting 20,000 jobs before the end of the month, when&amp;nbsp;it&#39;s expected&amp;nbsp;to unveil its next round of billions of dollars in losses.&lt;/p&gt;

Derek Loosvelt

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