Sir Fred Goodwin's Home Attacked

[Christo]

a) Brought a private owned bank to the brink of collapse, costing each and every tax payer in this country, yourself included, a sizeable sum of money. Some of which is paying his obscene pension.

b) Its his private property. And no, I agree it isnt, but it happens. I'm sure Tsar Nicholas would have preferred to have had his cars torched.

c) Not persuaded him to make a "grand gesture" and humble himself in the eyes of todays "mob mentality" media and get Fred to agree to have a lesser pension. I doubt he'll ever be worried about whether to buy Tesco value baked beans in the near future.

a) He alone did not bring down the bank, he was head of the bank. Its a massively complicated situation which in no way can be attributed to any one individual, it was systematic failure brought about by the collective failures/lack of foresight by many. So to blame him is pretty ridiculous.

b) So you are suggesting its better to attack a property over physical harm - I suggest neither is right!

c) Fred was given that pension. He didnt steal it. Why should he give it back? Why should he bow to the great unwashed? What is the 'grand gesture all about? Im not sure many people would give back a part of their salary/redundancy pay. That money was contractually his. Blame the Government officer/the board for giving him the pension - they are squarely the ones to blame. They have made him the Scapegoat over their error. The only reason this got out is because of the press - so the Government redirect blame!

 

[randal]

Very true.

From where I sit (too tired to stand) it looks like he's been made a scapegoat by the Government and media, because he's shock horror getting a pension deal that his contract called for, a contract that the shareholders and government were more than happy with when it was negotiated, and that the government knew about when they took over the bank.

I believe he actually gave up some of the things his contract legally entitled him to prior to his retirement in return for the rest of the package being honoured, which isn't something we've heard much about...

Not to mention whilst the mindless mob is busy going after him, the government can look better by calling for contracts/the law to be ignored in his case, whilst at the same time it keeps the papers from looking too closely at how they've mishandled the whole situation.

My thoughts exactly, couldn't have put it better. It was agreed in a contract when the bank was in good times, now it's bad and the media have spun it into a bitter frenzy everyone wants blood.

If were not careful this could bring about legislation that affects not just his pension, but everyone's.

 

[NathanE]

Fred Goodwin was just doing what all the other bankers have been doing for the past 12 years ever since Labour took power. The *first* thing Labour (and specifically Gordon Brown as chancellor) did was deregulate the banks. He basically said "don't worry, give loans to anyone, even dodgy looking Russians, we won't stop you!".

Now Labour, wanting to divert attention from itself, has started blaming the bankers and for some reason singled out Fred Goodwin because he was a particularly public face and could be easily picked on.

It's pathetic.

Gordon Brown is getting hardly any flak for this situation he has created. The BBC seems more content with reporting the death of Jade Goody than what really matters at the moment.

 

[matt_fsr]

Only after earning it many billions the decade before. I take it you are perfection itself in the workplace?

Nope, but there again my wage packet isnt enough for me to be

 

[Daniel75]

c) Fred was given that pension. He didnt steal it. Why should he give it back? Why should he bow to the great unwashed? What is the 'grand gesture all about?

well - "just because you can, it doesnt mean you should"

goodwin should get as much as he would get if company would collapsed - not a penny more. (about 20k?)

 

[[TW]Fox]

goodwin should get as much as he would get if company would collapsed - not a penny more. (about 20k?)

Unfortunately there is this little thing called 'the law' which gets in the way of that.

 

[RDM]

well - "just because you can, it doesnt mean you should"

goodwin should get as much as he would get if company would collapsed - not a penny more. (about 20k?)

Apart from the fact that it was a personal pension pot that the company was paying in to and it had already accrued quite a bit of cash since before he joined RBS. Or do you think it is OK for all of your pension from numerous employers be got rid of because you make a mistake? Do you have a pension with the company you work with at the moment? If so would you be happy for that to go if you mess up?

 

[Strife212]

Unfortunately there is this little thing called 'the law' which gets in the way of that.

No there isn't. The government signed off on a discretionary pension because they are stupid. If the bank collapsed there wouldn't be any money left to give him.

 

[Macabre]

Fred Goodwin was just doing what all the other bankers have been doing for the past 12 years ever since Labour took power. The *first* thing Labour (and specifically Gordon Brown as chancellor) did was deregulate the banks. He basically said "don't worry, give loans to anyone, even dodgy looking Russians, we won't stop you!".

Now Labour, wanting to divert attention from itself, has started blaming the bankers and for some reason singled out Fred Goodwin because he was a particularly public face and could be easily picked on.

It's pathetic.

Gordon Brown is getting hardly any flak for this situation he has created. The BBC seems more content with reporting the death of Jade Goody than what really matters at the moment.

So true.

 

[[TW]Fox]

No there isn't. The government signed off on a discretionary pension because they are stupid. If the bank collapsed there wouldn't be any money left to give him.

Yes there would, most of his money comes from his own pension pot he has been paying into for decades throughout employment with various firms.

 

[Daniel75]

Apart from the fact that it was a personal pension pot that the company was paying in to and it had already accrued quite a bit of cash since before he joined RBS. Or do you think it is OK for all of your pension from numerous employers be got rid of because you make a mistake? Do you have a pension with the company you work with at the moment? If so would you be happy for that to go if you mess up?

It's not like he would get nothing. 20k plus all things he managed to save/buy till now - for me it sounds like enough.

 

[fini]

No there isn't. The government signed off on a discretionary pension because they are stupid. If the bank collapsed there wouldn't be any money left to give him.

So you're suggesting actually bankrupting the bank for the sole reason of being able to not pay one man's pension? Are you insane?

 

[Goksly]

Only after earning it many billions the decade before.

Via a risky stratergy that left it with a net loss? Thats like putting your life saving on Red (in roulette) doubling it 3 or 4 times and then hitting black. So, does he deserve any credit? No.

Also people are annoyed with the pension because it was doubled (?) by the discretion of the board and a tax free (tax paid for by the bank) lump sum was paid. iirc he has paid back the lump sum and the pension increased.

 

[leaskovski]

This forum sometimes! lol, I do wonder!

 

[Von Smallhausen]

I wonder how many people here would hand back such a pension pot ?

Not many I wager.

The Government knew about his pension and I dont care what they say to the contary. He is being used as a scapegoat by them to deflect tensions over the current economic plight and I hope they fall flat on their arse over it.

If this is about not rewarding failure then perhaps several ministers whose expenses are under question could hand back extortionate claims for second homes that they pop into every week for a cup of tea, given the shower that the government is and the country is as a result.

 

[Sankari]

There is no justification for this attack, and no justification for supporting it.

 

[MaX_PoWah]

Anybody whose daft enough to go vandalise someones house isnt clever enough to know the finer points of what happened with RBS, which it has to be said, isnt completely his fault.

 

[JAzz]

Pretty immature thing to do really, people might feel strongly about his pension but this will achieve nothing and it is stupid thing to do.

Only after earning it many billions the decade before. I take it you are perfection itself in the workplace?

I think you will much of your good work goes down the drain in the eyes of many if you play a part in bringing a company to the brink of collapse. Whether that is right or wrong is up for debate. Unfair to put the blame solely on him though like many seem to be doing but you usually get the most praise when things are going well so you have to expect some stick in the bad times as well.

 

[Raumarik]

It's illegal and morally wrong to attack his home or his family like that. Frankly I can understand why people get worked up enough to do it though, but it doesn't make it right.

Thing that annoyed me most about the story was the fact that this will cost the taxpayer more for policing.

 

[Strife212]

The people who did it announced that this is 'only the beginning'.

Pretty lame beginning to be fair. If they totally blew up the house then I would be watching intently, at least it would be awesome Fight Club style instead of petty vandalism.