An undeserved pension

Sir Fred Goodwin, the disgraced and retired former chairman of Royal Bank of Scotland, was discovered to be drawing a pension of around

4 Responses to “An undeserved pension”

  1. keith_london says:

    I know we must never give in to mob rule, but Fred the Shred would be a good exception to this rule! When there is such perceived injustice, and when seemingly so powerless before the laws of the land, the peasants will revolt. Look what happened to Marie Antoinette ….

    Fred just doesn’t “get it” does he? He should try to mend his own personal image by handing money back!

  2. chrishansenhome says:

    Well, normally I would agree with you. However, remember this: Sir Fred will never work again. He is likely to be disinvited from any boards or voluntary organisations in which he is involved. Aside from getting a mob together with torches and pitchforks to spear and burn him alive, there is no way to remove his pension. He does not HAVE to “get it”.

    The Grauniad this morning had a sidebar detailing six possible ways of removing his pension. I guess that the problem is: Read it and weep. There seems to be no sensible way of removing the pension short of putting RBS into administration and taking its pensions into public administration. This would have terrible consequences for the entire banking system and the economy.

    I think that everyone should simmer down, hold Sir Fred in the contempt he deserves, and move on to build up the economy again without these chuckleheads who have ruined it.

    Oh, and Lord Myners ought to be fired as a minister.

  3. thoburn says:

    ooo I used to watch the adventure of Teddy Ruxpin when I was a kid

  4. bigmacbear says:

    There has been sentiment in the US Congress for banning boards from offering “golden parachutes” to departing executives prospectively, but it’s a little more obvious that nothing can be done retrospectively thanks to the ex post facto provision in the US Constitution.

    Also, there are a number of smaller, presumably healthier banks which were goaded into taking TARP (bailout) money and want to give it back to avoid some of the more onerous regulation that comes with it, and are being told they can’t. I think that particular logjam is starting to break up though; a Louisiana bank has done it this week.