The Fred Goodwin saga continues…

March 18, 2009 | By Paul Mackenzie Ross | Filed in: finance, news.

Whilst you work your proverbial rear end off, worrying about your mortgage and paying the bills, putting in extra hours to ensure the business stays afloat, learning something new every day, every hour to try and stay ahead of the curve and loading your brain with more knowledge & concerns than might normally be acceptable, being honest and true, paying your taxes and hoping that the measly sum you contribute to your pension will one day allow you to have at least some warmth and food on the table… some people will never have to worry about that and, worse still, they have the utmost contempt for you and your ilk.

Fred Goodwin, ex boss of the Royal bank of  Scotland, who received a huge pension of £693,000 a year despite being responsible for the biggest ever loss in British corporate history, has continued to behave in a manner which has rightly earned him the titles of The world’s worst banker and Britain’s most hated man.

Before I continue let’s recognise that there has been talk about this situation being blown out of all proportion with the whole public display of negative sentiment toward this one human being as a media witchhunt. Of course, the media have been known to unfairly focus on certain public figures in the past and witchhunts are historically carried out by religious zealots who fail to subscribe to their own delusions.

In this whole debacle there is a fair & valid case against Fred Goodwin.

We know that in the past he had been “successful” in the banking world; Forbes businessman of the year in 2002, recieving a knighthood in 2004 for “services to banking”; there is talk that he had also slashed 18,000 jobs before this time, earning him the dubious title “Fred the Shred”.

We’re also led to believe that Fred Goodwin was good at his job due to his remuneration of over £1 million last year – by that token we must all humbly know our place in society and wonder how on earth we can gain the education and experience to make ourselves worth 40 times more than the average hard worker.

But when the economic crisis took a tight hold last year, Fred Goodwin resigned from RBS at the tender age of 50. Whoever allowed him to retain his £16 million pension pot at a reported £693,000 a year is a fool. And to believe he has earned that amount of money for his retirement Fred Goodwin is selfish and greedy beyond comprehension.

But there’s more.


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