Thursday, Feb 26, 2009
Greed is good for Goodwin
FT: Goodwin stands firm over £16m pension
"Sir Fred Goodwin, former RBS chief executive, refused to bow to government pressure to hand back some of his £16m pension pot on Thursday, as a row erupted over his claim that ministers approved the deal last year."
Posted by letthemfall @ 09:05 PM (1241 views) Add Comment
29 Comments
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1. Newcynic said...
If Sir Fred has to give up his pension pot for failing in his job what about Gordon and Darling? Pot Calling Kettle black!!!
2. titaniccaptain said...
Why is he not in jail? is the question not why is allowed to get away with a silly pension after he failed
3. happy mondays said...
Why has he not been hung , drawn & quartered with all the other thieves! Is that to strong, maybe to much wine!
4. titaniccaptain said...
Im going to miss this site.............
5. happy mondays said...
Me thinks it has a few years in it yet , unlike the government & the monetary system placed upon us! Cheers to hpc'ers
6. little professor said...
Pure cronyism. His departure from RBS was deliberately delayed with the government's conniving until he had negotiated this pension payout. He is being paid with taxpayers money. He and Darling should be shot. There shouldn't have been a penny of taxpayers money committed until the directors of the banks agreed to forgo their bonuses and indeed the majority of their salaaries.
Bring on the revolution.
7. wiltshire said...
I see the politicans are quite happy for the target of the public's rage to be focussed on people like Sir Fred. He's morally as bankrupt as his bank but it was Labour who allowed the banks the rope on which we now all hang.
I'd like to know how much pension Prescott is drawing after his sterling work as Deputy PM!
8. inflation is eating my savings said...
titanic captain- do you intend leaving- or are you anticipating it will be shut down?
little prof- revolution requires starvation, agitation and a lot of luck. Kicking in a broken door was one metaphor used.
I think the 16 mills is a drop in the ocean, and all are guilty of greed. In the 30s, a bunch of bankers topped themselves- a bunch carried on living the high life. We'll see how deep this goes.......
9. titaniccaptain said...
@Happy mondays
No im leaving here on sunday.....well not permanently but alot less time here and more time over there will say a farewell on sunday.......I have been blogging on here for quite a while so will be sad to say goodbye...but on to bigger and better things me hopes...alot of people have left here already so like everything in life things move on
10. titaniccaptain said...
This site really changed my life............thanks to whoever set this thing up
11. gone-to-colombia said...
How can anyone need this kind of money?
Sheer greed made worse by the fact that he was a complete disaster in his job.
In Soviet Russia he would have been shot in the head, in China put on trial as a public display and warning to others. In Britain he gets a huge pension, and does not have the honour to refuse it.
Everything that is wrong with Britain is encapsulated in this story.
May he hang his head in shame and be shunned by anyone who loves their country.
12. little professor said...
tc - at least get your site sorted before its up and running
http://www.joelonsoftware.com/articles/Unicode.html
13. titaniccaptain said...
Big thanks for that LP I will pass that on to our web developers........they may have already looked at that but you never know........dont be a stranger :-)
14. devo said...
11. little professor said... tc - at least get your site sorted before its up and running
html and its derivatives (pun intended) should be started again from the ground up by non-nerds. lol
15. devo said...
11. little professor said... tc - at least get your site sorted before its up and running
BTW: ~~~~~ " its " should have an apoostophy.
No offence. lol
16. devo said...
bob1 ////// your next.
to thine own self be true
17. inbreda said...
Yes - will be sad to say goodbye to hpc. All the wonderful people I have met... glorious sunshine... indiablue... greenbay....
18. Righttoleech said...
I am worried about Sir Fred's safety. I fear that some members of the mug rump of society may have been pushed too far this time.
19. charlie brooker said...
One suspects if Goodwin doesn't yield in this Brown will order MI5 to arrange for Goodwin to have an horrific shaving accident next week.
20. charlie brooker said...
Hey - if the guvmun want to smear the slimey banker they could do worse than paraphrase Gordenron Ghecko's advice "Greed is Goodwin"
Er, like, high-fives 'n' shit.
21. bystander said...
.....and we haven't yet discussed the fact that he never contributed to this RBS pension pot in the first place. I contribute to my pension every month and definitely won't be getting £650000 per year, while I appear to be paying for 'Sir' Fred to retire early.
22. charlie brooker said...
@bystsander
Some pension schemes are non-contributory in that the beneficiary need not pay contirbutions.
Goodwin did however make an extra special contirbution to wrecking the British and world economy.
The man is a shameless crook whose knighthood was obtained by fraudulent means.
23. Browneconomy said...
LBG & RBS bonuses, Fred's pension all seem to be 'news'.
Not 'news' are us savers who have had our income cut by 80% (from 5% to 1%)
24. Sfletch said...
Knighted for services to the banking industry. tee hee.
http://petitions.number10.gov.uk/Unworthy-Knight/
25. denzil said...
All the best TC. The site you link to looks like potentially picking up the baton and running in the direction that HPC has been leaning towards for sometime. Events have become significantly bigger than a simple HPC remit.
26. titaniccaptain said...
Thanks Denzil we have been touched by the comments and emails of support..........I will still blog here occasionally but my time will be more over there.........I hope its all that we have promised....alot of time and money has gone in.....we may have teething problems in the first week but thats the nature of the game so stick with us....I really want to keep this community of minds together and look forward to the future....as I have said this site has helped me and my family beyond words as I am sure it has for everyone on here....
27. stillthinking said...
Hopefully this will escalate into a spat where a greedy banker fingers his accomplices in government.
28. Simplysam said...
Come on the whole daily reporting is getting pethatic. This is a scam of the highest order.It is the same strategy repeated again and again among all world financiers and UK government was party to this. This is what I think..
Banks had loads of money piling in their accounts year after year despite paying everyone and giving bonuses etc ...So government and a few banks got together to siphon off the monies piling in the bank plcs. So I think bank executives knew all along that they are going to bust the banks but they were given promises that they will be taken care of with handshakes and large pension pots (think relaxed FSA) Later (as we now know) one or two of the bankers will be sacrificed for the good of the others.
The government was running out of options such as stealth tax and increasing income/insurance taxes to cover their spendings and so this was a brilliant idea.They just need a good show to keep everyone engaged - a soap opera.
The questions are
1) where do these bankers with large sums deposit their monies (is it is switzerland or lichtenshtien?)
2) Who has got the monies? The large "corporate losses" that these banks have incurred means that some other company/body has collected all this money. There are a some people who are laughing.
Simples
29. another alan said...
devo, before you correct other people's grammar consider your own!
@15 'your next' should be you're next.
As someone said on another thread, we're all hypocrites!