Breaking news on BBC - Fred Goodwin refuses reduced pension

amcluesent

He should be offered the choice of no pension and community work until the RBS ££BILLIONS debt that resulted from his greed/incompetence is repaid to taxpayers or he can keep the pension and go to prison for 10 years.

And can there ever have been a less deserving 'Sir' in British history? I hope everyone who refers to him as such sneers at such at absurdity - at the behest of Clown needless to say. Jock thieves both.

treliac

To rub salt into the wound, RBS have announced 24.1bn losses and we now hear that Goodwin's 'pension' is discretionary rather than contractual.

Just how much more does the public have to take?

treliac

=amcluesent;19211765]He should be offered the choice of no pension and community work until the RBS ££BILLIONS debt that resulted from his greed/incompetence is repaid to taxpayers or he can keep the pension and go to prison for 10 years.

If only it were possible. Second option would be too good. He's only 50. 10 years, so out in 5, with a nice fat 5 years worth sitting waiting for him. Grrrr

Kev09

[quote=Fulham_Mark;19209629
Let's not forget that in the old days, the chairman of the bank would never really have earned the position and would have just risen though the ranks based on a gentleman's network and a pre-defined career path.
[/quote]

Are you suggesting that this complete an utter incompetent somehow deserved his position, the staggering fact that this man and his board pushed ahead with ABM AMBRO acquisition and gave out a big dividend end even when the realities of the banking crisis started, they are pure arrogant. The plain and simple fact is the monopoly positions these banks have enjoyed has meant that for years they couldn't help but make money, this has allowed people like Fred to rise to the top, enormous ego maniacs who are all trying to show that they have the biggest spuds around.

It has never been about business acumin at that level, if the man had any shred of decency he should donate his pension to all the people who will have to be laid off because of his reckless actions, something like this may help to restore his character to the public, he got the big bucks and all the plaudits for making the big decisions when everything was going good, he should also be punished when it goes bad.

And if he does not do it willingly he should be made too!!!!!!!!!!

PasturesNew

I have one question to ask (well 1001 really): Bank failure aside, is ANYBODY REALLY THAT good ... that they have earnt £650,000 every year for the rest of their life by the time they're 50?

"I work hard". EVERYBODY works hard... the woman cleaning the bogs probably works as hard as he did, just differently.

I don't believe that ANYBODY can have worked SO hard that they can be "worth" that much to be able to bung away that much of a pension every year, for life, when they are only 50....

I ..... am ...... gobsmacked. And nearly his age and have £0 pension to come... and if my entire life's earnings to date (earnings, not savings) were put in a pile beside one year of his pension, the pile of notes wouldn't even be half the height.

chambta

Graham_Devon wrote: »

I believe RBS is paying for his security.

I really hope that is not true.

chambta

amcluesent wrote: »

He should be offered the choice of no pension and community work until the RBS ££BILLIONS debt that resulted from his greed/incompetence is repaid to taxpayers or he can keep the pension and go to prison for 10 years.

And can there ever have been a less deserving 'Sir' in British history? I hope everyone who refers to him as such sneers at such at absurdity - at the behest of Clown needless to say. Jock thieves both.

Great option there! Like it very much!

PasturesNew

This is being discussed right now on BBC1, Question Time.

Pound

I just heard on the news that the RBS bail out will cost each tax payer £10,000.

treliac

Pound wrote: »

I just heard on the news that the RBS bail out will cost each tax payer £10,000.

Unbelievable. We're hearing numbers now that couldn't have been imagined a year ago.