RBS Fred Goodwin and 650k p.a pension at 50!
Discussion
As revolting as this story appears / is...
...Gordo has no moral highground to be running around b
hing about it now as if he and his staff hadn't been such incompetent dumbfks they wouldn't have handed over the cash to RBS without resolving issues like this and establishing conditions / safeguards first.
...Gordo has no moral highground to be running around b
hing about it now as if he and his staff hadn't been such incompetent dumbfks they wouldn't have handed over the cash to RBS without resolving issues like this and establishing conditions / safeguards first.Los Angeles said:
Adrian W said:
Not to long ago if you moaned about someone in this type of job's salary you would get told "that's what the best people cost, and if you don't pay the going rate for the job you wont get the best people" And he was considered the best.
A smart self-serving mantra. How good was Goodwin? Disasterous.Lord Turner, Chairman of the FSA, was interviewed by the House of Commons Committee. He admitted the FSA was under political pressure to avoid being "heavy-handed" with the banks, to employ a "light touch," but thought that approach entirely "mistaken."
That will account for Darling's limp wristed quibble, telling a colleague to tell Goodwin to reconsider his theft of a king's pension while thousands of his employees are getting fired, losing job and homes, and after his company was bailed out with 20 billion pounds of friggin' taxpayer money.
Goodwin should distribute his pension among staff and get the hell out of the UK!
And finally the mask slips and the whole rotten core of the financial system is revealed in all its hideous glory...
What is being exposed here is simple, naked greed and self-serving arrogance. Such a "captain' of industry would once have had the moral integrity to go down with his sinking ship.
Not now - the fecker feels he should be massively rewarded for his stupidity, complacency and mismanagement, and will sit by while thousands of his staff and the rest of the country pay the price for his gross incompetence.
And finally the mask slips and the whole rotten core of the financial system is revealed in all its hideous glory...
Edited by AlexKP on Thursday 26th February 19:19
why is it you only have to be an MP for 7 years and you get a pension fred gets his when he`s 50 the avarage working man has to wait till he`s 65.i was told by the goverment to take out a private pension for my old age which i could have when i was 50 they then moved the goalposts to 55.how can there be so many different rules for the same thing.people on this thread are saying that it was in the contract he sined ,i signed a contract as well to have my pension at 50 and the goverment changed it,so lets do the same for all these -ankers B or W what ever you want to call them and start getting some of the tax payers money back .lets get the bonuses back while we are at it and start legal action to get some redress for all the suffering they have caused to this country.
Goodwin was criminally negligent. He should be deprived of all the gains from his actions and stripped of his Knighthood.
He is a disgrace to his country and profession and if he had an ounce of morality he would do the decent thing.
Of course he won't and he will get away with it because this Country has too many of the 'good luck to him' and 'well, if there was a contract..' morons in it, some of whom post on here.
There's only one contract that should be carried out here and unfortunately it's not yet been arranged.
He is a disgrace to his country and profession and if he had an ounce of morality he would do the decent thing.
Of course he won't and he will get away with it because this Country has too many of the 'good luck to him' and 'well, if there was a contract..' morons in it, some of whom post on here.
There's only one contract that should be carried out here and unfortunately it's not yet been arranged.
robsti said:
why is it you only have to be an MP for 7 years and you get a pension fred gets his when he`s 50 the avarage working man has to wait till he`s 65.i was told by the goverment to take out a private pension for my old age which i could have when i was 50 they then moved the goalposts to 55.how can there be so many different rules for the same thing.people on this thread are saying that it was in the contract he sined ,i signed a contract as well to have my pension at 50 and the goverment changed it,so lets do the same for all these -ankers B or W what ever you want to call them and start getting some of the tax payers money back .lets get the bonuses back while we are at it and start legal action to get some redress for all the suffering they have caused to this country.
Because they are the ruling elite and everyone else is just a mug. I wonder what the pension arrangements are, for the bunch of chancers that voted through Goodwin's windfall. I strongly suspect they are all on massive pensions and notice periods. At the very least he should have his knighthood withdrawn. I hope all those poor shareholders who were conned into subscribing, to last years rights issue, bring a class action against all those responsible for the tissue of lies contained in the prospectus. It would be proper justice, if they all had to spend the next 10 years being eaten alive by lawyer’s fees, whilst fighting off personal bankruptcy.
Edited by ianash on Thursday 26th February 20:34
I'm not normally conspiracy minded, but here's my theory.
Government passes through poorly written legislation allowing them to alter pensions, due to "massive public outrage" (generally from people not thinking this through)
Goodwin gets pension halved, but takes it to ECHR and gets it reinstated in a few years. Probably doesn't care very much because 20% inflation in a year or two will have made it comparatively worthless.
Meanwhile, all public sector workers have pensions cut to a pittance, using powers given with aforementioned legislation.
Genius
Government passes through poorly written legislation allowing them to alter pensions, due to "massive public outrage" (generally from people not thinking this through)
Goodwin gets pension halved, but takes it to ECHR and gets it reinstated in a few years. Probably doesn't care very much because 20% inflation in a year or two will have made it comparatively worthless.
Meanwhile, all public sector workers have pensions cut to a pittance, using powers given with aforementioned legislation.
Genius
Goodwin's pension fund will have been accumulated over his entire working life. No doubt most of it was accumulated at RBS but I wonder how much was accumualted prior to that? How much of it was accumulated while RBS was making strong profits?
If he were to pay that back because its argued that actually RBS wasn't REEEEALLy making the profits reported.....then does RBS get the corporation tax back the Brown the Clown had off them???
If he were to pay that back because its argued that actually RBS wasn't REEEEALLy making the profits reported.....then does RBS get the corporation tax back the Brown the Clown had off them???
elster said:
Does that mean if they ask for his pension for work he has already done...
I think this is the nub of the problem - his "work" was to destroy a bank. make losses of £24 billion, render thousands of staff jobless, cost the taxpayer tens of billions of pounds and generally make a major contribution to f8cking up the national economy.The guy should be in prison, not relaxing in his country estate on 55k per month.
b
Iain328 said:
Goodwin's pension fund will have been accumulated over his entire working life. No doubt most of it was accumulated at RBS but I wonder how much was accumualted prior to that? How much of it was accumulated while RBS was making strong profits?
If he were to pay that back because its argued that actually RBS wasn't REEEEALLy making the profits reported.....then does RBS get the corporation tax back the Brown the Clown had off them???
Does success actually count for anything if the company ends up completely down the pan? It seems to me that the success banks have been having in recent years was simply because of short-termism. Like a 400metres runner sprinting the first 350 meters and collapsing in a heap just before the line. Utterly futile and undeserving of any reward. If he were to pay that back because its argued that actually RBS wasn't REEEEALLy making the profits reported.....then does RBS get the corporation tax back the Brown the Clown had off them???
If we feel bad imagine how bad the folks that used to work here feel about this situation........
http://news.bbc.co.uk/1/hi/wales/2980428.stm
http://news.bbc.co.uk/1/hi/wales/2980428.stm
Gassing Station | News, Politics & Economics | Top of Page | What's New | My Stuff