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General Chat Thread, The rich get richer... in General; Originally Posted by KWestos Leave him alone! He needs the pension because he has potentially another 30 - 40 years ...
  1. #16

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    Quote Originally Posted by KWestos View Post
    Leave him alone! He needs the pension because he has potentially another 30 - 40 years left to live the lifestyle he has been accustomed to! Isn't that what footballers wives get anyway as a settlement!
    Thirty or forty? You've not been looking at recent life expectancy figures.

    He's only fifty! The way things are going I'll be expecting to be working until about 70 or 80 before I get a pension, at least.

  2. #17
    KWestos's Avatar
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    Quote Originally Posted by jamesb View Post
    Thirty or forty? You've not been looking at recent life expectancy figures.

    He's only fifty! The way things are going I'll be expecting to be working until about 70 or 80 before I get a pension, at least.
    With a pension like that I would expect to live to 110.

    Me too, I doubt I will ever retire, can't afford to!

  3. #18

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    Quote Originally Posted by KWestos View Post
    With a pension like that I would expect to live to 110.

    Me too, I doubt I will ever retire, can't afford to!
    If we can get together say, twenty people quietly arrange to dispose of him, reckon we could split the pension evenly between us? Still a decent wage after all, even with a twenty-way split.

  4. #19

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    BURN 'IM

    He turned me into a newt

  5. #20

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    You don't look like a newt.

  6. #21
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    We need to introduce the Fred Goodwin RBS 100% Pension tax into parliament ASAP

  7. 2 Thanks to somabc:

    diagram (28th February 2009), grumpy_git (28th February 2009)

  8. #22
    mpe
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    Quote Originally Posted by Polski View Post
    OK folks, with the news that the RBS fat cat SIr Fred Goodwin is not going to give back any of his £693k per year pension, after wrecking the bank and loosing thousands of his former employees their jobs.

    What are the general thoughts on this?
    My feelings on this are
    a) If an employee has a bonus proportionate to the profits of a company they should have their pay docked if that company makes a loss.
    b) Prison was good enough for Nick Leeson.
    c) Asset forfeiture should have been used before "bailouts" using either the public's money or Lloyds TSB in the case of HBoS.
    d) About the only knight who appears to actually have any banking qualifications works in the entertainments industry.

  9. Thanks to mpe from:

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  10. #23
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    Quote Originally Posted by mpe View Post
    My feelings on this are
    a) If an employee has a bonus proportionate to the profits of a company they should have their pay docked if that company makes a loss.
    now your just being silly....the govt. spent years implementing a light touch regulatory approach to attract all the bests spivs and speculators to the city.

    if you actually punishing reckless risk taking, what happens to all the talent we apparently can't do without. they'd pick their ball up and pi$$ of to some other financial capital probably. More to the point, RBS and HBOS were making multi-billion pound profits AS they were being run into the ground.

    The bailed out banks have been run recklessy for years and were paid bonuses linked to illusory success, that's the mechanics of the biggest credit bubble in history......how would you punish that genius ?
    claw back 10 years of bonuses following the fallout of a 10 year bubble ?

    the only winners there would be the lawyers, another breed we can't do without either apparently.

  11. #24
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    I'm sorry but if my employer offered me a deal with bonus package etc I wouldn't give it up either. Why should I?

    He left before the banks started to fail etc so there was no mention of him having failed at anything until after the fact.

    I'd love £700k a year

  12. #25
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    Quote Originally Posted by pooley View Post
    I'm sorry but if my employer offered me a deal with bonus package etc I wouldn't give it up either. Why should I?

    He left before the banks started to fail etc so there was no mention of him having failed at anything until after the fact.

    I'd love £700k a year
    exactly. everyone's wise after the fact. for instance the same people in the media who are now whining about godwins pension were cooing as he chased the ABN-AMRO deal......ponzi brown gave him a knighthood for services to banking ffs. there was no talk of RBS's reckless expansion and the bonuses and pensions for the chief execs and pensions back then was there ?

    Nothing like a scapegoat for systemic banking failure to deflect attention from the failings of chancellor brown. Make no mistake about godwins culpability in ruining RBS into the ground, and he's an idiot for attracting all this negative publicity.

    ...but there were a lot of players in this crisis and all roads lead back to brown.

    And the likes of brown and prescott being indignant is the height of hypocrisy...godwin and the other failed bankers were busy giving brown the headlines he craved for his miracle, ponzi economy. and he gave him a knighthood as a big, fat thankyou. it was politically expedient to not regulate properly the actions of HBOS, rbs, northern crock et al.

    don't be deflected by godwins pension and browns ludicrous posturing. what a pair of twits.

  13. #26

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    Quote Originally Posted by torledo View Post
    brown gave him a knighthood for services to banking ffs. there was no talk of RBS's reckless expansion and the bonuses and pensions for the chief execs and pensions back then was there ?

    Nothing like a scapegoat for systemic banking failure to deflect attention from the failings of chancellor brown.


    And the likes of brown and prescott being indignant is the height of hypocrisy...godwin and the other failed bankers were busy giving brown the headlines he craved for his miracle, ponzi economy. and he gave him a knighthood as a big, fat thankyou. it was politically expedient to not regulate properly the actions of HBOS, rbs, northern crock et al.

    don't be deflected by godwins pension and browns ludicrous posturing. what a pair of twits.
    Absolutely - all this fuss is an attempt at deflecting the flak from the lot who are in power, and whose policies led us here in the first place. In the past, this sort of thing would have brought down a government but these days no one takes responsibility as they should do.
    Fred Goodwin got that money under the terms of his contract - why on earth should he have to be bullied into giving it back? OF COURSE he doesn't deserve that sort of money but there are many many others who have loads of bonuses etc that should never have been paid to them. It is the system and the 'light-touch' that is to blame (and it is so sad as it is EXACTLY the sort of regulation that dear Mrs T and the capitalist Tories delighted in, and should be anathema to the socialists)

  14. #27
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    Quote Originally Posted by witch View Post
    and should be anathema to the socialists
    i agree, but nulabour aren't socialists.....corporate socialists yes.

    the nulabour policies that are supposed to help the poor are infact policies to enrich their corporate buddies. there have also been plenty of policies to help the nulabour cronies. how things change....goodwins now about as welcome in no.10 and no.11 as herpes.

    bet fred the shred isn't on mandy's christmas card list either. he was a bit perplexed that goodwin hadn't caved in.

    anyone who get's two jags' granny pants in a twist can't be all bad. shurely ?

  15. Thanks to torledo from:

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  16. #28

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    It's the same the whole world over,
    It's the poor that get the blame,
    It's the rich that get the pleasure,
    Ain't it all a bloody shame

  17. #29
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    Quote Originally Posted by pooley View Post
    He left before the banks started to fail etc so there was no mention of him having failed at anything until after the fact.
    No he left because the bank had failed, and it was his disastrous idea to merge with ABN AMRO at the peak of the market that caused most of the losses.

    The mistake the bank & government made was not sacking him for gross incompetence with no pay-off / pension.

  18. #30

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    Polly Toynbee's article today is interesting - in one sentance she sums it up for me:

    'Sir Fred is a product of Britain's winner-takes-all culture that Labour never attempted to civilise.'

    Polly Toynbee: Sir Fred's just one of millions to do better under Labour | Comment is free | The Guardian

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