Polski Posted February 27, 2009 Posted February 27, 2009 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......
Ex-MGSTech Posted February 27, 2009 Posted February 27, 2009 He'd probably get Legal Aid! I think there's one phrase to sum this up PURE GREED!
Polski Posted February 27, 2009 Author Posted February 27, 2009 Steady now, that font could injure someone!
Avalon Posted February 27, 2009 Posted February 27, 2009 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!
Polski Posted February 27, 2009 Author Posted February 27, 2009 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?
jamesb Posted February 27, 2009 Posted February 27, 2009 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?
Michael Posted February 27, 2009 Posted February 27, 2009 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.
Ex-MGSTech Posted February 27, 2009 Posted February 27, 2009 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.
AyatollahPies Posted February 27, 2009 Posted February 27, 2009 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.
Ex-MGSTech Posted February 27, 2009 Posted February 27, 2009 That's spooky I actually thought this when I caught it on the Radio this morning!
apoth0r Posted February 27, 2009 Posted February 27, 2009 Guantanamo is for that kind of thing isn't it ? Off you go Sir Fred!
jamesb Posted February 27, 2009 Posted February 27, 2009 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.
Polski Posted February 27, 2009 Author Posted February 27, 2009 Ah! But everyone knows that revenge is a dish best served cold. And those hills are awefull cold at this time of year!
KWestos Posted February 27, 2009 Posted February 27, 2009 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!
jamesb Posted February 27, 2009 Posted February 27, 2009 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.
KWestos Posted February 27, 2009 Posted February 27, 2009 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!
jamesb Posted February 27, 2009 Posted February 27, 2009 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.
somabc Posted February 27, 2009 Posted February 27, 2009 We need to introduce the Fred Goodwin RBS 100% Pension tax into parliament ASAP 2
mpe Posted February 27, 2009 Posted February 27, 2009 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. 1
torledo Posted February 27, 2009 Posted February 27, 2009 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.
pooley Posted February 27, 2009 Posted February 27, 2009 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
torledo Posted February 27, 2009 Posted February 27, 2009 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.
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now