Typical- Fred the Shred getting 650k pa

lynzpower

http://www.bbc.co.uk/blogs/thereporters/robertpeston/2009/02/fred_goodwin_to_receive_650000.html

Authoritative sources have told me that Sir Fred Goodwin, the former chief executive of Royal Bank of Scotland - who is widely blamed for the colossal mess it's in - is already drawing a pension of £650,000 a year.
He's only 50 and he's got it for life. His pension pot, which generates the pension, is worth a handsome £16m.
Perhaps unsurprisingly, when I informed the Treasury we were about to run this striking story, I was told that ministers were very unhappy about the generous terms of Sir Fred's early retirement package.

mike_the_bike_2

I wonder what the cost of the security he will need for the rest of his life will cost..there are a lot of VERY unhappy people around right now!

leveller2911

Just seen the news on bbc1, for the first time in my life .......................

.........................I,m speechless............:eek: I can't think of anything constructive ....

Brian_Bullocks

He needs to be put in stocks & have bull !!!!!! from the Highlands thrown at him.

MrFonzerelli

Very unhappy, blah, blah, blah. Exactly who do ministers expect to fix the problem?
One would have thought they would have bought a mirror with all the expenses they're given.

pizzagirl

He's a convenient scapegoat , but an approriate scapegoat at the same time. He better keep his head down next time he's playing a round at St Andrews.

Cleaver

Man gets pension that was in his contract in the first place. Non-story really.

I agree with pizzagirl. He's like a convenient posterboy of this whole thing, and £650,000 a year is a drop in a gaping big ocean when compared to the massive losses generally.

Morally, should he get that money? No. Contractually? Of course he should.

Cleaver

mike_the_bike wrote: »

I wonder what the cost of the security he will need for the rest of his life will cost..there are a lot of VERY unhappy people around right now!

True.

But blaming him for the strife we're in now is akin to blaming Ronald McDonald for the obesity crisis. We all love a good scapegoat to blame as it's a lot easier and more convenient that actually assessing and understanding the mass of complex issues that got us in to this situation.

Wookster

In one word: scandalous!

amcluesent

"And as long as those ingredients, explosive ingredients, remain. Then you're going to have the potential for explosion on your hands". Malcolm X

People should be on the streets. Hopefully the 'summer of rage' will start at the London G20.

sabretoothtigger