Friday, 11 March 2011

Fred the *anker's Superinjuction

I have to admit that yesterday's story about Sir Fred Goodwin's superinjunction just made me laugh. The result of parliamentary privilege means that John Hemming was able to highlight this story which would otherwise not have been permitted - I don't get this bit, but I assume the reports are allowed to talk about what Mr Hemming said, rather than simply talk about Fred Goodwin without good reason... as if him destroying the eceonomy wasn't good enough reason to occasionally spit some venom in his direction...

Sir Fred Goodwin (but Bad Loser apparently!) knighted, via Gordon Brown (lest we forget), for services to banking, apparently doesn't want to be called a banker anymore. Small wonder I suppose given the poor name bankers have these days, but a wee bit strange seeing as he was the most high profile of the psychopaths who nearly destroyed capitalism.

Just for the record though:
Fred Goodwin was a banker for more than a decade, taking senior posts at Clydesdale and RBS before accepting the role of RBS chief executive in 2001.

He gained the nickname Fred the Shred for his ruthless approach to business.

After RBS’s takeover of Dutch bank ABN Amro in 2007, widely seen as one of the worst business moves in recent history, Sir Fred’s banking career went rapidly downhill.

The bank, under his leadership, was brought to the brink of collapse, requiring a £45.5bn state bailout that brought it 83% into public ownership. (INcidentally, I think the UK coffers might do very well in the long run out of that wee bit of business!)

However, he is still eligible for a £342,500 annual pension – reduced from £700,000 in the face of public outcry – meaning that although he is now technically an ex-banker, he draws the sort of income from banking that most of us could only dream of.

Sir Fred - You are a *anker and always will be in my eyes!

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