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Mr. Fred Goodwin

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Doug B

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Yebbut what about the other bankers that received titles & have been equally inept, lets see them loose these undeserved titles.
 

RogerS

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That has MADE my day! Brilliant result.

Doug...none have presided over the largest collapse of a bank in history. I'm just surprised that he hasn't been investigated for malfeasance.
 

Doug B

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RogerS":1kym9jb6 said:
Doug...none have presided over the largest collapse of a bank in history. I'm just surprised that he hasn't been investigated for malfeasance.
According to radio 4 there were others at that bank who received honours & a few elsewhere who are not a deal better & whilst I think he should loose his title, I don`t think he should be made a scapegoat to appease the media & public whilst the others get away.
 

thomvic

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I suppose I'm pleased about it really. However, given that bestowing knighthoods on on all kinds of wallies and non-deservers is now the norm they don't have much street cred do they?

Richard
 

Paul Chapman

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Doug B":37wkgmn7 said:
According to radio 4 there were others at that bank who received honours & a few elsewhere who are not a deal better & whilst I think he should loose his title, I don`t think he should be made a scapegoat to appease the media & public whilst the others get away.
His side-kick and Deputy Chairman at RBS, Sir Tom McKillop, who appeared alongside him at the Select Committee Hearing, appeared equally incompetent and if he didn't know what Fred the Shred was up to, he should have. All of the Board of Directors at that time seemed to be acting in a totally reckless way.

Cheers :wink:

Paul
 

tomatwark

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The old boys network has struck again.

Fred Goodwin while he should have lost his knighthood has been made a scape goat.

I notice that there are a lot of former MPs who fiddled the expensives and committed fraud have not been prosecuted or been sent to prison and are now Lord this or Sir that, but have not lost their titles.

I guess that Fred Goodwin did not lick enough of the right backsides so when he got it wrong was hung out to dry.

I would also ask why has it taken so long for the government to act, surely this should have happened in 2009.

This is the PM once again having one rule for his mates and another for everyone else, I case of political point scoring I think.

Tom
 

Digit

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This is the PM once again having one rule for his mates and another for everyone else,
Milliband supported the decision.

Roy.
 

StevieB

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tomatwark":2fkrjam2 said:
The old boys network has struck again.

Fred Goodwin while he should have lost his knighthood has been made a scape goat.

I notice that there are a lot of former MPs who fiddled the expensives and committed fraud have not been prosecuted or been sent to prison and are now Lord this or Sir that, but have not lost their titles.

I guess that Fred Goodwin did not lick enough of the right backsides so when he got it wrong was hung out to dry.

I would also ask why has it taken so long for the government to act, surely this should have happened in 2009.

This is the PM once again having one rule for his mates and another for everyone else, I case of political point scoring I think.

Tom
As far as I am aware, Fred Goodwin has lost his knighthood and not alot else - exactly how is he a scapegoat? Dis-investiture of a conferred title is the perogitive of only the monarch, who receives advice from parliament. It does take a while for the wheels of power to turn, and he is the first person ever to be stripped of a title without having committed a crime. It's a symbolic act rather than an actual punishment in the physical sense. Robert Peston on BBC news has quite a good blog on this, which states that as the head of a corporation the buck essentially stops with him, whether he knew exactly what was going on or not, and whether he had sole responsibility for decisions or not. How often do we hear of a corporate head not being punished while minions take the blame (Rupert Murdoch and NoTW spring to mind?) and now when one does fall from grace apparently it's not enough / he's a scapegoat - take your pick. Whichever, its a popular move - supported by both sides of the house, but in the grand scheme of things hardly a big vote winner I would have thought? As no crime has been committed, and no laws broken, what would you like the PM to have done in this instance if this is a case of political point scoring?

Steve
 

Paul Chapman

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tomatwark":3sqix7uy said:
Fred Goodwin ........................... got it wrong ..............
He did far worse than just get it wrong. When he tried to explain, at a shareholders meeting, what had happened he admitted that he had not even made the most basic checks on the financial position of ABN AMRO before RBS took it over. He acted totally irresponsibly with other people's money - and the Board of Directors of the bank were just as bad by failing effectively to question what he was doing, which is why the ex-Chairman should lose his knighthood as well. Mind you, the Government at the time under Tony Blair and Gordon Brown were just as much to blame by failing to ensure that there was an effective regulatory regime under which the financial sector operated. Hope the present Government doesn't wait too long before getting an effective regime in place to prevent it happening again.

Cheers :wink:

Paul
 

RogerS

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tomatwark":3bdj563u said:
The old boys network has struck again.

Fred Goodwin while he should have lost his knighthood has been made a scape goat.

I notice that there are a lot of former MPs who fiddled the expensives and committed fraud have not been prosecuted or been sent to prison and are now Lord this or Sir that, but have not lost their titles.

I guess that Fred Goodwin did not lick enough of the right backsides so when he got it wrong was hung out to dry.

I would also ask why has it taken so long for the government to act, surely this should have happened in 2009.

This is the PM once again having one rule for his mates and another for everyone else, I case of political point scoring I think.

Tom
Rubbish...total and utter cowdung.
 

tomatwark

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I agree that he has not lost a lot else, he should have been investigated properly, because I am sure he knew exactly what was going on and probably was telling his staff to do these shady deals.

The point I was trying to make was that he should not have been the only one to have lost his title.

I would have liked the previous PM to do this, but I suspect that the conservatives will try a ploy of we sorted the bankers out, look we made Hester give up his bonus ( which was really not the case ) and we took Goodwins title away.

This is all of course total bo**ocks but I bet it is mentioned at the next election .

I don't think it is enough, I think there should be a change in the law to stopped these people being able to run a company if they have caused it to fail at the moment they can just move on the the next one.

If there was some way that his pension could have been stopped it should have been as well.

I hope his wife has a good divorce lawyer and takes him for the lot.

Tom
 

tomatwark

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RogerS":3hcw5e98 said:
That has MADE my day! Brilliant result.

Doug...none have presided over the largest collapse of a bank in history. I'm just surprised that he hasn't been investigated for malfeasance.

Roger

I am surprised as well and this is why I am sure there is a lot of the old boys network going on here, as if he was I suspect a lot of things would come out that the government and the city do not want us to find out about.

One of the main ones being that the government had a pretty good idea of what was going on before it all went wrong and did nothing to stop it.

I can't believe that after Northern Rock went **** up that they did not look at the other banks exposure rather closely.

One person that I have not heard comment about any of this over the last week or so ( I may have just missed it ) is Ed Balls, Gordon Browns adviser when a lot of the problems started to happen.

Tom
 

Digit

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Seeing as Tony Blair's expenses claims were 'accidentaly shredded' shortly before he left office......

Roy.
 

Modernist

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Whilst he certainly deserved it he is also being made a scapegoat. The rot in financial services was/is omnipresent and it is not so long since he was lauded from the rooftops. The same people are now queuing up to condemn him for a moment of publicity. It is notable that the more decent operators such as Darling are a little more cautious.

Why do we bother with the press - Oh yes we rely on them to expose scandal and malpractice. Would that be their's or society's?
 

Digit

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The same people are now queuing up to condemn him for a moment of publicity.
Yep! And are probably the ones who supported Hester into the job. See my earlier comments about ex-football managers. It's a merry-go-round.
Having said that, all people should be responsible for their actions.

Roy.
 

Digit

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When the cash runs out and they can't screw any more out of the fans.

Roy.
 
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