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Sir Fred Goodwin’s pension climbdown
Former Royal Bank of Scotland chief Sir Fred Goodwin has agreed to more than halve his widely criticised 703,000-pound pension award.
He will now only receive an annual payout of 342,000 pounds.
Chairman Philip Hampton said: “I am pleased that common sense has now prevailed and I hope that most reasonable people will welcome that.”
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Bankers offer act of contrition
In the Middle Ages the four ousted British bankers who brought the Royal Bank of Scotland and HBOS to the brink of collapse would have probably had to endure the public humiliation of sitting in the stocks.
On Tuesday the likes of former RBS chairman Tom McKillop and former RBS chief executive Fred Goodwin had to undergo a more civilised form of public humiliation – a grilling by Parliament’s Treasury committee.
Given the public outrage over their huges salaries and bonuses for banks that are receiving state aid the bankers’ parliamentary appearance could have not have come at a worse time.
Not surprisingly then McKillop, Goodwin as well as former HBOS chairman Dennis Stevenson and former HBOS chief executive Andy Hornby were quick to say sorry.
The bankers are all sitting pretty with their huge bonuses and salaries and enormous pension pots – what do they REALLY care about the rest of us. And what’s with the Sir XY&Z – the titles can go too. The “have yatchts” are OK! The bankers should have some (all) of the money they took confiscated back for their crimes then and only then would they really know how the rest of us feel. The Government – well I wish we could do more than simply throw them out of office at the next Election by way of punishment for their mis-deeds.
Bankers offer act of contrition
In the Middle Ages the four ousted British bankers who brought the Royal Bank of Scotland and HBOS to the brink of collapse would have probably had to endure the public humiliation of sitting in the stocks.
On Tuesday the likes of former RBS chairman Tom McKillop and former RBS chief executive Fred Goodwin had to undergo a more civilised form of public humiliation – a grilling by the Parliament’s Treasury committee.
Given the public outrage over their huges salaries and bonuses for banks that are receiving state aid the bankers’ parliamentary appearance could have not have come at a worse time.
Not surprisingly then McKillop, Goodwin as well as former HBOS chairman Dennis Stevenson and former HBOS chief executive Andy Hornby were quick to say sorry.
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The Wall
Good old Fred!!The incompetent fools who allowed him to get away with the pension in the first place are now off the hook and Fred gets to enjoy the spoils in peace.Who said he was a wrecker? The guy’s a master of win-win negotiation!! Too bad about the taxpayers, but they’re used to being screwed by the gang in Westminster so what’s another few million here or there?