World's Worst Banker Ousted By The Prince's Trust

[R K]

http://www.timesonline.co.uk/tol/news/uk/article5590733.ece

He went from being one of the most revered figures in the City to one of the most reviled. Now the former chief executive of the Royal Bank of Scotland, Sir Fred Goodwin – “Fred the Shred” – has been forced to step down as head of the Prince of Wales’s personal charity. He will quit as the chairman of the Prince’s Trust in June.

His departure comes less than a week after Clarence House officials signalled that the Prince valued the leadership of Sir Fred, whom he appointed to the post six years ago.

He was said to have no plans to remove him and Sir Fred, whose main role was to preside at the quarterly meetings of the charity’s trustees, was even reported to have told friends that he intended to stay on longer. According to former colleagues he is a firm believer in the duty of business to help the underprivileged.

In the last few days, however, that has become an increasingly untenable option. Already cursed with a toxic reputation since he was fired by RBS in October last year, his stature sank even lower when the bank announced the biggest loss in British banking history. Derided as “the world’s worst banker”, there were even calls for him to be stripped of his knighthood.

It soon became clear to the Prince that a charity which helps disadvantaged youngsters get into work and start their own businesses could not continue to have as its figurehead a man who has caused so much economic damage.

A Clarence House spokesman confirmed today that Sir Fred, 50, was leaving the charity. “His tenure was for three years and that was renewed for a further three. It was always due to run out in June this year and he will be stepping down. The Prince is very grateful for all his hard work and support.”

I read somewhere over the weekend that an MSP has asked the police to investigate RBS statements to shareholders. Perhaps we will see some prosecutions after all.

[ccc]

http://www.timesonline.co.uk/tol/news/uk/article5590733.ece

I read somewhere over the weekend that an MSP has asked the police to investigate RBS statements to shareholders. Perhaps we will see some prosecutions after all.

Yeah I brought up that thread last night. Thought it was a rather important movement in this whoel mess. The Police potentially investigating a big British Bank for Fraud.

Nobody replied.

Oh well I found it interesting !!

Personal Anecdote - Sir Fred's wife still walks into the School she takes her kids to - head held high - same high and mighty attitude as before. Bit of nerve considering many of the other parents at the School may have been properly done over by his actions.

Seems Mr and Mrs Goodwin are not too disimilar.

[Dangerous Woman]

http://www.timesonline.co.uk/tol/news/uk/article5590733.ece

I read somewhere over the weekend that an MSP has asked the police to investigate RBS statements to shareholders. Perhaps we will see some prosecutions after all.

If we ever do I promise to eat Krusty's hat.

[Wires 74]

Personal Anecdote - Sir Fred's wife still walks into the School she takes her kids to - head held high - same high and mighty attitude as before. Bit of nerve considering many of the other parents at the School may have been properly done over by his actions.

What exactly do you expect her to do - crawl into the schoolyard on all fours ?