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General Chat Thread, The rich get richer... in General; OK folks, with the news that the RBS fat cat SIr Fred Goodwin is not going to give back any ...
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    The rich get richer...

    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?

    John Prescott had a good moan on Radio Four (stop tittering at the back!) this moring about how it should be stopped (in part) and let the fat cat drag the govenment to court to argue his case.

    Form an orderly queue......

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    MGSTech's Avatar
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    He'd probably get Legal Aid!

    I think there's one phrase to sum this up


    PURE GREED!

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    Steady now, that font could injure someone!

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    but the taxpayer which owned 68% of the bank, probably more like 95% after yesterday is the majority shareholder.

    can the government not TELL him he is not having it?! make him wait until he is old enough to claim a state pension, let him suffer!

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    First against the wall...

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    Does the fact that in his letter he claims Lord Myners knew of the amount and of the "discressionary" state of the award, make people think that this is just an "Old boy's pay-off" that 'unfortunately' slipped into the public domain?

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    Quote Originally Posted by Polski View Post
    Does the fact that in his letter he claims Lord Myners knew of the amount and of the "discressionary" state of the award, make people think that this is just an "Old boy's pay-off" that 'unfortunately' slipped into the public domain?
    What else would it be?

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    Michael's Avatar
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    I've heard various allegations being made. Did the Government know and agree to something months ago or were they completely unaware? I'm sure the press will reveal more over the next few days, but (as far as I can see) it all looks legal at the moment. As a result Sir Fred Goodwin has said 'no' to returning some of the money. Just how much he's expected to return isn't clear either.

    Understandably the Government and indeed the public are extremely bitter about the fact he'll get 12-13,000 a week, thousands have lost their jobs and the bank have made billions in losses.

    It's all very well Gordon Brown deciding to introduce laws, but it takes time to become law. I think (for the time wasted trying to resolve this issue), the Government need to look at the bigger picture. A pension isn't a bonus and all the Government and Barack Obama have been talking about are large bonuses.
    The fact that the Government have a 70% share in RBS clearly means bugger all in practice.

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    MGSTech's Avatar
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    make the bank insolvent and unable to pay its pensions to anyone.
    Bit unfair I know but if a company went bust and haddn't underwritten its pension it would be the same.

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    AyatollahPies's Avatar
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    I wonder how long before he goes Hill Walking.

    After all. You can't keep drawing a pension if you're no longer with us.

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    MGSTech's Avatar
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    That's spooky I actually thought this when I caught it on the Radio this morning!

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    Guantanamo is for that kind of thing isn't it ?
    Off you go Sir Fred!

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    Quote Originally Posted by MGSTech View Post
    make the bank insolvent and unable to pay its pensions to anyone.
    Bit unfair I know but if a company went bust and haddn't underwritten its pension it would be the same.
    At which point you lose everything else in the bank, not worth the cost for a little revenge.

    Not that a little revenge is wrong, but there are better ways. I'd suggest he takes the money and uses it to get a new identity, leave the country, and fortify himself somewhere isolated. The public tolerance of this sort of behaviour is near non-existent now.

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    Ah! But everyone knows that revenge is a dish best served cold.

    And those hills are awefull cold at this time of year!

    <Chuckle>

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    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!

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