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Podcast
5LNPI: What makes a sporting legend? 14 Dec 09
10:21 Mon, 14 Dec 09
The winner of the BBC's Sports Personality of the Year last night was Manchester United's Ryan Giggs. The Formula One World Champion, Jenson Button, was runner-up. The lifetime achievement award went to Spanish golf legend Seve Ballesteros who's recuperating from a brain tumour. But what is it that defines a legend? Is it the number of trophies in the cabinet? Is it staying at the top of your sport year after year. Is it overcoming adversity like our paralympians? And does a legend have to be a success in all parts of their life- have the revelations about Tiger Woods and his private life reduced him in your eyes?
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Yes Fred the Shred should get his pension ...
BUT ONLY AFTER 30 years, the same time that the Great Train Robbers got, and they ONLY did £2.4 million.
This guy has done £24 BILLION and brought the bank sector to its knees, probably created the catalyst to get ONE MILLION people unemployed in Britain. This guy is one of the biggest failures ever, and he walks away laughing !!!
He's the same age as me, getting 650K a year for TOTAL FAILURE. Pigs with their snouts in the trough!
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The directors should be personally liable through their negligence (at best) or plain fraud (gambling with investor’s money and pensions). If other professions adopted the same attitude say doctors, lawyers etc what would happen to them? If a patient dies as a result of the same attitude what would happen? Because it is paper and nobody actually dies he and others walk with no consequences. As for the shareholders, they are very large institutes who are in each others pockets. The other question is what did the auditors do for their fat fees? How did they get a clean audit?
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I think we have to just accept that there are those who are at the top of the pile and they and happy to stand on the rest of us who are at the bottom. In reality we have no real ability to change it. When I signed my contract with the local authority in 1992 I agreed to pension arrangements whereby I could drawn down my pension without penalty at 55. Because the government felt this was too generous this was changed to 65 when the local government regulations were changed. I had no say in this even though it was part of my contract.
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One thing needs to change...
The Royal Bank of Scotland is no longer Scottish - with 80% of "UK" taxpayers being English - the English taxpayer is no the majority shareholder.
Time to change it's name to something more representative:
"The mainly English Bank"
for instance or
"The English Taxpayers Bank"
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Regards Fred Goodwin, once Chief Exec at RBS ... please also mention the case of John Carrier, ex Chief Executive of Scarborough Building Society who precided over a failed attempt to grow the business by a "punt" on buying and selling sub prime mortage books, despite advise not to from the FSA of all people! Due to the credit crunch a merger with the Skipton BS was enforced by the FSA last year (a touch ironic?!). John Carrier retired in December with a huge pension relative to the size of the business after engineering the whole situation by tight control of policy and overpaid management (exec and non-exec cronies) (i.e. "YES" men). Meanwhile the Scarborough disappears after 155 years and nearly 100 people lose their jobs. Another under-reported financial scandal IMHO.
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I have had the dubious pleasure of meeting Sir Shred for several business meetings when he was head honcho at Clydesdale Bank. I was an outside contractor - but the guy who I worked for - and who was directly reporting to Goodwin was absolutely terrified of him. So much so, that my contact ended up a gibbering wreck of a man. He was off sick for months - and in the end resigned his position rather than go back to work for the Shred.
In my opinion, Goodwin is nothing more than a blagger and a bully - it's so nice to see him get his just desserts..... I refer of course to his several million pounds pay-off to leave RBS. And as if that wasn't kick-in-the-groin enough, we stick the boot in further by insisting he takes his 650 grand a year pension - for as long as he lives!!!!.....
In this country we really do know how to humiliate a man, don't we?
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Sure,Fred should get his 600k per annum for life, paid weekly in the local Post Office,
Just ensure tat said life is abbreviated qite sharply.
Otherwise, what about a windfall tax on the pension fund?
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The law should be changed to stop any further obscenities of this nature occurring. As a pensioner whoworked hard all my life he is collecting more in one week than I collect in two years.
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There are many questions being asked about the Post Office being sold off and the management being foreigners.
As an Englishman I regard Scots as foreigners.
Looking at Fred Goodwin, Gordon Brown, Alistair Darling, Yvette Cooper, etc etc it would seem to me that 'Scot' is a four-letter word meaning overrated.
Let Shred keep his pension, as long as we English can have our country back and run by Englishmen. Independence for England!
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Richard:
No deal!!!
~Dennis Junior~
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The media has been obsessed with this issue about Goodwin's pension all day because it diverts away from the real cause of the problem which is the decline and inefficiency of UK capitalism generally.
Ranting on about the likes of Goodwin and other top fat cats simply personalises the problem albeit ideal of radio phone in's shows and the likes of corporate press and capitalist politicians who are desperate to find a scapegoat for anything.
It is pointless therefore to complain about the likes of Goodwin and his ilk (as unjustified as their pensions and bonuses are) unless one addresses the criminality of bailing out these astronomical bank losses with taxpayers money supposedly with the intention of kickstarting the system again.
Unless there is a much needed political challenge to 'bourgeois economics' Fred and co will have no compunction about receiving these vast sums as a reward for servicing the system despite its failings!
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