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Wednesday, 25 February 2009

Fred Goodwin to receive £650,000 for life

Robert Peston is running with this headline on his blog. He quotes 'authoritative sources' so who are we to doubt it

I hope Robert is wrong with this one. Its outrageous, if true, that Sir Fred is already drawing down an annual pension of £650,00o and for life. 

This is a guy that has destroyed not only RBS shareholder value, but value of an entire sector and has contributed to destroying capitalism as we know it.  oh and lets remember its you and i as taxpayers who are in the curious position as part owners of RBS that ultimately are paying this pension. 

All I can say is that all the riches in the world wont ease his conscious or repair his shattered reputation. But maybe it would pay for an identity change and a new anonymous life.


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