Govt to change law if they can't win Goodin pension case
Discussion
Did anyone else see this on the Andrew Marr show? If the current law allows Goodwin to keep his pension then they will change the law to allow them to take it back! Is it just me or is that a little bit scary?
From the front page of Times Online...
Harriet Harman hints at law change to claw back RBS chief's pension if Treasury lawyers cannot win court case
Yes, I'm upper-middle class, live in Oxforshire and vote Tory, but I tend not to get involved in all the Labour bashing on here, however this really does stink and I can't believe the media aren't picking up on it in the way I think they should.
From the front page of Times Online...
- ***
Harriet Harman hints at law change to claw back RBS chief's pension if Treasury lawyers cannot win court case
- ***
Yes, I'm upper-middle class, live in Oxforshire and vote Tory, but I tend not to get involved in all the Labour bashing on here, however this really does stink and I can't believe the media aren't picking up on it in the way I think they should.
http://news.bbc.co.uk/1/hi/uk_politics/7917361.stm
Have a look at the video of the interview, it's pure bulls
t.
Have a look at the video of the interview, it's pure bulls
t.Whilst it does smack of vote chasing it is a total dosgrace that Fred Goodwin, and others on the boards of these bnks, and indeed other publically quoted companies have been paid so much money, got large bonuses and huge pensions whilst the company has either gone bust or been bailed out by the government.
After all it is us as taxpayers who are footing the bill for his pension, and at the same time footing the bill for sorting out the shambles he has left the bank in.
I have been saying for ages that there is something wrong with the pay/bonus structure in the City as the amounts paid were obsence, and one could say the same for football players etc.
Its not a terribly right wing thing to be arguing but there must come a point where the rewards are too excessive and the City seems to have hit that point some time ago.
At least if you invest your money to set up a company making and selling widgits, you know how much it costs to make them, you then know how much you need to sell them for. The more you sell them for the more money you make. If you cock it up you don;t expect the government to bail you out!
I really would like to hear Sir Fred justify his total renumeration package bearing in mind he has managed to destroy at least 2 great banks!
After all it is us as taxpayers who are footing the bill for his pension, and at the same time footing the bill for sorting out the shambles he has left the bank in.
I have been saying for ages that there is something wrong with the pay/bonus structure in the City as the amounts paid were obsence, and one could say the same for football players etc.
Its not a terribly right wing thing to be arguing but there must come a point where the rewards are too excessive and the City seems to have hit that point some time ago.
At least if you invest your money to set up a company making and selling widgits, you know how much it costs to make them, you then know how much you need to sell them for. The more you sell them for the more money you make. If you cock it up you don;t expect the government to bail you out!
I really would like to hear Sir Fred justify his total renumeration package bearing in mind he has managed to destroy at least 2 great banks!
Asterix said:
I find the guy's bonus payment ridiculous, however, changing the law for something they signed off on originaly is a step too far.
Very scary that they are even thinking about it.
Yes, the pension is a bit ridiculous, but it was all signed off in order to get rid of him quickly and quietly. Now it's come back to bite the govt on the ass they want to change their mind and effectively nullify their original deal.Very scary that they are even thinking about it.
They are reportedly now analysing all his travel and expenses in the hope of finding something in there which allows them to accuse him retrospectively of gross misconduct and therefore removes his right to most of his pension.
Asterix said:
I find the guy's bonus payment ridiculous, however, changing the law for something they signed off on originaly is a step too far.
Very scary that they are even thinking about it.
Not really. Extraordinary payoff in extraordinary times calling for extraordinary measures.Very scary that they are even thinking about it.
Sets a nasty precedence, and hopefully they'll strip Gordon Brown of his pension for the same thing. Wishful thinking I fear.
jamiebae said:
Did anyone else see this on the Andrew Marr show? If the current law allows Goodwin to keep his pension then they will change the law to allow them to take it back! Is it just me or is that a little bit scary?
From the front page of Times Online...
Harriet Harman hints at law change to claw back RBS chief's pension if Treasury lawyers cannot win court case
Yes, I'm upper-middle class, live in Oxforshire and vote Tory, but I tend not to get involved in all the Labour bashing on here, however this really does stink and I can't believe the media aren't picking up on it in the way I think they should.
This is not just a "little scarey". This is an abuse of power.From the front page of Times Online...
- ***
Harriet Harman hints at law change to claw back RBS chief's pension if Treasury lawyers cannot win court case
- ***
Yes, I'm upper-middle class, live in Oxforshire and vote Tory, but I tend not to get involved in all the Labour bashing on here, however this really does stink and I can't believe the media aren't picking up on it in the way I think they should.
A government wants to get at a single individual, realise they can't because he has a legally binding contract, so they change the law so that they can.
Help me I cannot find the words...
and surpise surprise, it's the vile Hazel Harperson AGAIN
tinman0 said:
Asterix said:
I find the guy's bonus payment ridiculous, however, changing the law for something they signed off on originaly is a step too far.
Very scary that they are even thinking about it.
Not really. Extraordinary payoff in extraordinary times calling for extraordinary measures.Very scary that they are even thinking about it.
Sets a nasty precedence, and hopefully they'll strip Gordon Brown of his pension for the same thing. Wishful thinking I fear.
sir fred cant be the only one getting a golden goodbye...what about all the others and the whole labour party presiding over 10 years of inflated fabricated economic growth and getting paid for it? before they came to power i could easily afford a property near my work in london now such properties are 2 maybe 3 times more expensive and i have to live outside london.....i think most of them are in it for themselves and to hell with the country...grab what they can get and run for it..
tinman0 said:
Sets a nasty precedence, and hopefully they'll strip Gordon Brown of his pension for the same thing. Wishful thinking I fear.
Daily MashPuggit said:
tinman0 said:
Sets a nasty precedence, and hopefully they'll strip Gordon Brown of his pension for the same thing. Wishful thinking I fear.
Daily Mash
Puggit said:
tinman0 said:
Sets a nasty precedence, and hopefully they'll strip Gordon Brown of his pension for the same thing. Wishful thinking I fear.
Daily Mash
Princess_S said:
Brown is very hypocritical to punish anyone for failure.
So true.I think its wrong that he's getting what he's getting, but then he's done well to negotiate it, Brown et al took their eyes off the ball (how unlike them!) and now they're trying to focus on this rather than focus on bigger issues.
Changing the laws to cover up their cock-ups is worrying and should never, ever be allowed.
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