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RBS / Fred's Pension (3 merged threads)

come_the_day

Lantern Swinger
So the RBS has "lost" over £24,000,000,000 in the last year.

Can someone explain to me how people like Sir Fred Goodwin (how much?) and Sir James Osborne are knighted for services to the banking industry, despite their obvious failures, when Surgeon Vice Admiral Ian Jenkins, recently RIP, having been the Surgeon General and, latterly, Constable of Windsor Castle, was not knighted for his decades of service to the Armed Forces and UK plc?
 

NotmeChief

Banned
Re: RBS Down the Swanee

You obviousl wrote that before the announcement that he is also retiring on £650,000 per year (for life), and is only 50 years old.

They are taking the piss.
 

Daktari

Banned
Legal action will be taken on RBS Boss's Pension!

http://uk.news.yahoo.com/4/20090226/tuk-legal-action-over-ex-rbs-boss-s-pens-dba1618.html

RBS earlier announced a whopping £24.1 billion pre-tax loss for 2008, yet 50-year-old former chief executive Sir Fred Goodwin - widely seen as the architect of the bank's downfall - is drawing a £650,000-a-year pension.

Gordon Brown said he is "determined" action should be taken in the case of Sir Fred - who is known as "Fred the Shred" for his ruthless cost-cutting. He and chairman Sir Tom McKillop lost their jobs last year when the taxpayer had to bail out the bank.

Hmmm ... seems that Fat Gord is now bending to public demand that Sir Fred is taking the P*ss to the extreme!

Funny then The Government "Standards and Privileges" Committee said: "Mr Brown should not have sub-let part of his accommodation paid for from Parliamentary allowances.

"However, neither Mr Brown nor the Labour Party derived any financial benefit from this arrangement and there was no intention to deceive and in our view no further action is necessary"

http://uk.news.yahoo.com/5/20090226/tuk-prime-minister-rebuked-for-breaking-45dbed5.html

So if everyone now kicks off about Fat Gord's seemingly urge to work a fiddle perhaps someone will do something about him too!
 

finknottle

Banned
Re: Legal action will be taken on RBS Boss's Pension!

Nice little earner nearly 58 thousand a week for life for being an incompetent twat, the taxpayer now own nearly 80% of RBS/NatWest so something had better be done about this sickening scale of pension. It has been said that big businesss is where the real crooks are, it's bloody true.
 
Re: Legal action will be taken on RBS Boss's Pension!

You'd think that bankers would be familiar with the term 'Accountability'.
 

Seaweed

War Hero
Book Reviewer
Re: Legal action will be taken on RBS Boss's Pension!

I bet this pension is legally fireproof and G Mugabe will end with egg on his face.
 
Re: Legal action will be taken on RBS Boss's Pension!

finknottle said:
Nice little earner nearly 58 thousand a week for life for being an incompetent twat, the taxpayer now own nearly 80% of RBS/NatWest so something had better be done about this sickening scale of pension. It has been said that big businesss is where the real crooks are in it's bloody true.

Now let's be fair. After tax he's having to struggle on around a meagre £7,500 a week (£30K a month). That's barely £1,000 a day! How can bankers (now public sector employees, remember) live on such pauperly sums? :wink: :roll:

PS: How does Brown intend to litigate when presumably this pension was part of the banker's contract? If he fulfilled, what may be very easily attainable targets and this met with shareholder approval at RBS's AGM, it is difficult to see upon what legal basis the government intend to attempt clawback. I suspect this represents the triumph of wishful thinking (alias Spin) over reality. :roll:
 
Re: Legal action will be taken on RBS Boss's Pension!

Now about Mr Broooons £1600


Am I missing something here? if a rent of £1600 was paid be that a year or month is not clear then if Mr Brown or the Labour party did not received it just precisely where did the £1600 or the monthly payment of £1600 finish up in who's bank account pocket to paid for what exactly.

Some one, an organization or even charity(Said with tongue in cheek) must have benefited. Or was that a question the the The Standards and Privileges Committee thought of or bothered to ask?

Like all MP cl;aims they are as bent as a 9 bob note and any questions are covered up and shunted away.

Nutty
 
Re: Legal action will be taken on RBS Boss's Pension!

The same in Ireland the regulator who failed to regulate. 650,000 lump sum and 2,350 a week pension for not doing his job!!!

Gord sub letting you try that on a council or housing trust property and you will be looking for new digs the week after.
 

Seaweed

War Hero
Book Reviewer
Re: Legal action will be taken on RBS Boss's Pension!

Hoist in that for most politicians the entire object in entering Politics was to make money and then you'll never be surprised again.
 

RN_Commando

Banned
Should the rest of Britain bail out RBS

The banking problem is really P1ssing me off! I just heard that the 70% of RBS shares are owned by the goverment (us). Now nothing against the jocks but, they do harp on about independence/devolution and love the SNP. Well why not let them pay there own debts off?

--------------------------------------------------------------------------------------

What are your thoughts?
 

lesbryan

War Hero
Re: Should the rest of Britain bail out RBS

I think it should be fully nationalised and run for the country and not the greedy pillocks :D
 

finknottle

Banned
Re: Should the rest of Britain bail out RBS

I am sure lots of English folks have accounts with RBS/NatWest and is the aptly named Goodwin that orchestrated this disaster a Jock? Also I think you will find that the majority of Jocks do not harp on about independence, it's you lot.
 

Seadog

War Hero
Moderator
Re: Should the rest of Britain bail out RBS

finknottle wrote
is the aptly named Goodwin that orchestrated this disaster a Jock?

Born in Scotland, sounds like a Jock. How does it go? If it quacks like a duck..........

Also I think you will find that the majority of Jocks do not harp on about independence, it's you lot.

Agreed. And thankfully the northern Nationalists have gone quite. The world's fifth biggest bank (awesome) reduced to a relative piggy bank in short order.
 

fishhead

War Hero
I understand from the BBC evening news that Sir Fred's retirement and pension was agreed in the week or so leading up to the government(i.e. the Taxpayer) having agreed to take a 40% share in RBS but not yet having a say.Had the Bank been allowed to go bankrupt as it surely would Sir Fred would have ended up with a pension of around £20.000 per year.The people negotiating on our behalf about the terms of this deal were taken for naive mugs by the canny bankers and quite correctly so it would seem.
 

Seadog

War Hero
Moderator
Guzzler wrote
I would quite happily stab him in the throat.

Filthy man.

The lowest of the low.

Your contribution to this thread is less than Sir Fred's contribution to the RBOS. Please try harder.
 
The real question is not should Fred the Shred give back some of his pension by why did he get so much in the first place. Gordons mob neotiated the whole deal including Freds departure with the bank but seem to be completely unaware of the terms of Freds retirement. If this is true are they fit to run the country, never mind half the country's banking system.

In reality Fred and the other ******* were no more inept than the government that let them get away with it in the first place. If Fred was a pillock and thus rightly made to retire early what of Gordon and Captain Darling who let him get away with it. Will Gordon and Darling give back any of their gold plated pension.
 

Daktari

Banned
BBC reported this morning on the radio that the RBS had stopped Freds Pension and was inviting him to sue them although nothing on the message boards about it as yet although he has been reported as stating that he wont give it up.

Be interesting to see how it pans out although with public emotions running high I personally think he will end up the loser. Its a pity as well as deporting illegals/drug traffikers we cant deport anyone who tries to rip off the country on the scale that he has. Perhaps we could make him an ambassador and send him off to some hell hole spot permanently where he was bound to contract some disease ... like ebola!
 
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