not laughing at you. laughing at the govt and all it will do in order to get another term.
But i'm still not voting blue...
RBS Fred Goodwin
- Thread starter agentundercover
- Start date
But i'm still not voting blue...
Buckley
Well-Known Member
Exactly.
'The court of public opinion' as given judical guidance by The Sun would have been hanging paedaetricians a while ago!
Morbyd
Moderator
I'm with Mark. A deal is a deal. The law is the law.
The guy has a hefty pension, despite his mistakes (i.e. catastrophic ABN-Amro acquisition). Sure, it sucks... but that's life.
Since the government owns half the banks now, perhaps it should put in place new compensation guidelines that the Sun readership won't find objectionable
(that's what they've done for banks that receive bailout money in the US, by the way)
Buckley
Well-Known Member
Since the government owns half the banks now, perhaps it should put in place new compensation guidelines that the Sun readership won't find objectionable
(that's what they've done for banks that receive bailout money in the US, by the way)
Not aware of the possibility of this but should the govt not of said 'here's the choice - you agree to quarter your bonuses and pensions and we save your business or we let you go bust and you get bugger all...'
Or is that not possible? Are these guys set up as first creditors if they are going to the wall
puppylover
Active Member
I wonder if he has room for a girlfriend in his life hmmmmmmmmmm
I can't believe they didn't explore this route. ridiculous.
I wonder if he has room for a girlfriend in his life hmmmmmmmmmm
i bet he could afford to get you a new polo
Morbyd
Moderator
Basically, that's what they're doing in the US.
http://www.marketwatch.com/news/story/obama-limits-bailed-out-bank-ceo/story.aspx?guid={E10B6EBB-8F8A-461D-891C-1134821D0816}&dist=msr_70
puppylover
Active Member
and what about the front line staff of these businesses, savers, shareholders... the taxpayer will pick up the tab regardless.
agentundercover
Active Member
hold on a sec.
one of you says he did his business dealings motivated by the aim of getting rich quick - the other saying it was to stop another bank getting it, thats a business decision?
but you agree?!
tripehound
New Member
Pass the man a revolver
macdonsj
Moderator
agree on it being his poor decision making that drove the bank into disasterous times
its been stated in public that Barclay were sniffing about Abn and that it was a massive ego trip that led Goodwin to authorise purchasing it
agentundercover
Active Member
we all agree on this, he was a flawed manager evidently - however if he had done what he did five years ago, he would have probably got away with it and been made a lord never mind a sir! but clara linking his personal greed / reputation as fred the shred (he sacked people, so what?) is nothing to do with the issue of can the law be changed for one individual.
djcadenza
Active Member
i think the overall point that was being made was that he was a major league "james hunt"...should the law be changed for one person?probably not,..so at what point do the victims of his over-inflated ego get any justice?...people have already speculated on his future employment prospects in banking being none existent,hence he is holding on to his pension deal very tightly!..now that sh*t is laughable.people like fred goodwin dont just dissappear cheque in hand into the night!
macdonsj
Moderator
lets not kid on that without this pension he will be destitute
he already has made his fortune through banking
with as much qualifications as i have for it i suspect
What's laughable about it? No bank will ever employ him. Do you disagree?
He's already had to resign from several none banking board postions including the Prince's trust. he'll be persona non grata for many years to come.
Guys like Fred goodwin tend not to be driven by money, they already have enough. They are driven by status, power and the ability to influence. With both his status and ability to influence now in tatters, he'll be bitter and digging his heels in. And won't give up his pension to his persecutors.
djcadenza
Active Member
agreed...banks probably wont employ him...but thats the price you pay for gross incompetence
the equation in my opinion is this: power=status=influence=money=power,etc.
amassing great wealth is the ultimate reward of being a powerful person...
do you honestly think that he no longer has friends in 'high' places,who can thtrow him a lifeline??
I don't think he needs a lifeline to be honest. He's got a £700k annual pension
No doubt he'll have influential friends, but i wonder how many of them were friendly due to his status rather than his jolly company?
I'd imagine even those faithful to him will want to avoid any association with him until this mess passes over. As he's now the public's first hate figure of the recession, i imagine he'll be notorious at least for the duration of this recession. Which unfortunately for the rst of us, may be quite a long time.
No doubt he'll have influential friends, but i wonder how many of them were friendly due to his status rather than his jolly company?
I'd imagine even those faithful to him will want to avoid any association with him until this mess passes over. As he's now the public's first hate figure of the recession, i imagine he'll be notorious at least for the duration of this recession. Which unfortunately for the rst of us, may be quite a long time.