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Stripped of his knighthood

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By (user no longer on site) OP   
over a year ago

The former boss of the Royal bank of Scotland looks like he is being stripped of his knighthood. Apparently at some point he must have been pretty good at his job to get one. How the banking collapse has ended up with him getting the blame for its near collapse.

Ok the guy lost his job after a bit of a disaster but it wasn’t just the RBS. So do you think it’s justified removing his knighthood or is he being made a scapegoat?

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By *ayman2002Man
over a year ago

Peterborough

The word 'scapegoat' springs to mind.. or should that be 2 words? lol

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By *ushroom7Man
over a year ago

Bradford

Scapegoat. Though with hindsight he did appear inept.

Most, though not all,of the honours system is now farcical.

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By *ouple in LancashireCouple
over a year ago

in Lancashire

political bollocks by the tories to remove it tbh..

not a fan of patronage for folk just 'doing their job'..

maybe its the end of the 'no-blame' culture?

if its ok to apply hindsight in this case, surely it can be used for other people who have fecked up..

how about the managers of Network Rail who sat on the report from their own staff that the pedestrian crossing was dangerous in Elsenham where the two young girls later died..

they then covered up and hid the report..

that sort of 'feck up in a public office' lead to two deaths..

will they be held accontable, nope..

and guess who pays the fine..

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By (user no longer on site)
over a year ago

bankers shouldn't be knighted, all they do is erode our hard earn money with pointless charges!!!!

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By *uckoo clockCouple
over a year ago

Merseyside

Yes he should have. In 'ordinariy' life if you fuck up you get penalised.

So often if you are part of the political elite or the upper echelons and you do the same you are rewarded

As they say in poker....'the game is not straight '!!

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By *am sampsonMan
over a year ago

cwmbran

it as he got it for services to banking he should get for dis- services to banking - along with the rest that cocked up

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By *emima_puddlefuckCouple
over a year ago

hexham

typical cameron pr...the guy may be a twunt, but he broke no law...unlike archer

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By *illbillMan
over a year ago

dublin

he is a banker,why shoud there be sympathy, as for loosing his knighthood, so what...what prestigedoes a title hold, he is human ike us all. titles mean nothing.

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By (user no longer on site) OP   
over a year ago


"he is a banker,why shoud there be sympathy, as for loosing his knighthood, so what...what prestigedoes a title hold, he is human ike us all. titles mean nothing. "

wow harsh! Just because he is a banker he shouldn't get sympathy?

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By *landPeggyCouple
over a year ago

Holland !

Ex-knight has a ring to it, he could go by the nickname x-night, and if it all happens to him twice again he could go by xxx-night.

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By *uckoo clockCouple
over a year ago

Merseyside

Archer should have lost his knighthood too.

Goodwin broke no law but was a principal cause in bringing more misery on more people than many who have !!

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By *landPeggyCouple
over a year ago

Holland !


"he is a banker,why shoud there be sympathy, as for loosing his knighthood, so what...what prestigedoes a title hold, he is human ike us all. titles mean nothing.

wow harsh! Just because he is a banker he shouldn't get sympathy? "

....um,


"

Goodwin resigned in October 2008 as the bank was failing, provoking the public's ire by leaving with 16 million pounds ($25 million) in pension benefits.

"

/ random web research

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By (user no longer on site)
over a year ago

Should have gone to jail

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By *iewMan
Forum Mod
over a year ago

Angus & Findhorn

another day in reactionary Britain.

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By (user no longer on site)
over a year ago

Goodwin oversaw - as CEO - a suicidal multi-billion-pound deal to buy Dutch rival ABN Amro at the height of the financial crisis in 2007, which led to RBS having to be bailed out to the tune of £45bn by taxpayers.

Clearly Goodwin, with corporate greed and an overpowering desire to push RBS ahead of everyone else in the banking sector, had his own safety mechanisms switched off and failed to see the damage this deal was doing to RBS and the impact it was likely to have on the entire sector and, beyond that, the wider economy.

Businesses have gone bust because of the fall out of what Goodwin did as CEO of RBS. Livelihoods and have been lost and investment portfolios of ordinary people have collapsed because of what Goodwin did. The recession might have always been on the cards but he was certainly the trigger for it, and on that basis he should be fookin jailed, not knighted!

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By (user no longer on site)
over a year ago

I agree entirley.

It's nothing to do with hinde sight, it was a case of " by the time the shit hits the fan I will be gone" but he was not.

It's not as if he will be sleeping underneath Waterloo bridge with a copy of the big issue.

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By (user no longer on site) OP   
over a year ago


"Goodwin oversaw - as CEO - a suicidal multi-billion-pound deal to buy Dutch rival ABN Amro at the height of the financial crisis in 2007, which led to RBS having to be bailed out to the tune of £45bn by taxpayers.

Clearly Goodwin, with corporate greed and an overpowering desire to push RBS ahead of everyone else in the banking sector, had his own safety mechanisms switched off and failed to see the damage this deal was doing to RBS and the impact it was likely to have on the entire sector and, beyond that, the wider economy.

Businesses have gone bust because of the fall out of what Goodwin did as CEO of RBS. Livelihoods and have been lost and investment portfolios of ordinary people have collapsed because of what Goodwin did. The recession might have always been on the cards but he was certainly the trigger for it, and on that basis he should be fookin jailed, not knighted!"

But there were a number of banks in trouble all over the world, he bought yes but I remember the news at the time and nobody was screaming for his head then and I'm pretty sure he didn't break law or he would have been prosecuted.

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By *waymanMan
over a year ago

newcastle


"The former boss of the Royal bank of Scotland looks like he is being stripped of his knighthood. Apparently at some point he must have been pretty good at his job to get one. How the banking collapse has ended up with him getting the blame for its near collapse.

Ok the guy lost his job after a bit of a disaster but it wasn’t just the RBS. So do you think it’s justified removing his knighthood or is he being made a scapegoat?

"

It's all just spin....

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By (user no longer on site)
over a year ago


"Goodwin oversaw - as CEO - a suicidal multi-billion-pound deal to buy Dutch rival ABN Amro at the height of the financial crisis in 2007, which led to RBS having to be bailed out to the tune of £45bn by taxpayers.

Clearly Goodwin, with corporate greed and an overpowering desire to push RBS ahead of everyone else in the banking sector, had his own safety mechanisms switched off and failed to see the damage this deal was doing to RBS and the impact it was likely to have on the entire sector and, beyond that, the wider economy.

Businesses have gone bust because of the fall out of what Goodwin did as CEO of RBS. Livelihoods and have been lost and investment portfolios of ordinary people have collapsed because of what Goodwin did. The recession might have always been on the cards but he was certainly the trigger for it, and on that basis he should be fookin jailed, not knighted!

But there were a number of banks in trouble all over the world, he bought yes but I remember the news at the time and nobody was screaming for his head then and I'm pretty sure he didn't break law or he would have been prosecuted."

I can't think of too many companies worldwide that have needed a taxpayer funded injection of £45bn to stop it going under.

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By *landPeggyCouple
over a year ago

Holland !


"I can't think of too many companies worldwide that have needed a taxpayer funded injection of £45bn to stop it going under. "

The military ?

* starts dodging bullets *

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By *ustyBrunette35Couple
over a year ago

birmingham

I thought he got knighted for "His services too banking" and it has since been discovered that he didn't actually do a great deal of good for banking so they took it away from him.

Not really a political move from the Tories because Milliband has welcomed the decision.

He was given something that was later realised he didn't deserve, well done everyone concerned

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By *waymanMan
over a year ago

newcastle


"Goodwin oversaw - as CEO - a suicidal multi-billion-pound deal to buy Dutch rival ABN Amro at the height of the financial crisis in 2007, which led to RBS having to be bailed out to the tune of £45bn by taxpayers.

Clearly Goodwin, with corporate greed and an overpowering desire to push RBS ahead of everyone else in the banking sector, had his own safety mechanisms switched off and failed to see the damage this deal was doing to RBS and the impact it was likely to have on the entire sector and, beyond that, the wider economy.

Businesses have gone bust because of the fall out of what Goodwin did as CEO of RBS. Livelihoods and have been lost and investment portfolios of ordinary people have collapsed because of what Goodwin did. The recession might have always been on the cards but he was certainly the trigger for it, and on that basis he should be fookin jailed, not knighted!

But there were a number of banks in trouble all over the world, he bought yes but I remember the news at the time and nobody was screaming for his head then and I'm pretty sure he didn't break law or he would have been prosecuted.

I can't think of too many companies worldwide that have needed a taxpayer funded injection of £45bn to stop it going under. "

Will MAtthew Ridley, chairman of Northern Rock when it went down, be stripped of his title when his dad pops his clogs?

I'd guess not. A lifetime of Tory party donations and an uncle who was the scummiest of Thatcherites have made sure Matthew escaped Northern Rock without a blot on his escutcheon.

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By *waymanMan
over a year ago

newcastle


"I thought he got knighted for "His services too banking" and it has since been discovered that he didn't actually do a great deal of good for banking so they took it away from him.

Not really a political move from the Tories because Milliband has welcomed the decision.

He was given something that was later realised he didn't deserve, well done everyone concerned "

The timing is intensely political. As is the fact that he's the only one.

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By *landPeggyCouple
over a year ago

Holland !


"He was given something that was later realised he didn't deserve, well done everyone concerned "

Royals, take note.

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By *ustyBrunette35Couple
over a year ago

birmingham

How many "Head" (I can't think of a better word ) of banks were knighted for their services too banking ?

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By (user no longer on site)
over a year ago


"Will MAtthew Ridley, chairman of Northern Rock when it went down, be stripped of his title when his dad pops his clogs?

I'd guess not. A lifetime of Tory party donations and an uncle who was the scummiest of Thatcherites have made sure Matthew escaped Northern Rock without a blot on his escutcheon."

How ambiguous you are with the facts sometimes, espeically if you need to be to support your anti-Tory stance.

Shall we enlighten everyone else to what Ridley was to Northern Rock?


" From Wiki:

Matthew Ridley was non-executive chairman of Northern Rock from 2004 to 2007, earning £300,000 a year, having joined the board in 1994. His father had been chairman from 1987 to 1992 and sat on the board for 30 years.

In September 2007 Northern Rock became the first British bank since 1878 to suffer a run on its finances at the start of the credit crunch. It was forced to apply to the Bank of England for emergency liquidity funding, following problems caused by the US subprime mortgage crisis. Ridley resigned as chairman in October 2007, having been blamed in parliamentary committee hearings for not recognising the risks of the bank's financial strategy and thereby "harming the reputation of the British banking industry.""

"harming the reputation of the British banking industry" - not quite the same as almost bringing the entire UK economy down is it?

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By (user no longer on site)
over a year ago


"Will MAtthew Ridley, chairman of Northern Rock when it went down, be stripped of his title when his dad pops his clogs?

I'd guess not. A lifetime of Tory party donations and an uncle who was the scummiest of Thatcherites have made sure Matthew escaped Northern Rock without a blot on his escutcheon.

How ambiguous you are with the facts sometimes, espeically if you need to be to support your anti-Tory stance.

Shall we enlighten everyone else to what Ridley was to Northern Rock?

From Wiki:

Matthew Ridley was non-executive chairman of Northern Rock from 2004 to 2007, earning £300,000 a year, having joined the board in 1994. His father had been chairman from 1987 to 1992 and sat on the board for 30 years.

In September 2007 Northern Rock became the first British bank since 1878 to suffer a run on its finances at the start of the credit crunch. It was forced to apply to the Bank of England for emergency liquidity funding, following problems caused by the US subprime mortgage crisis. Ridley resigned as chairman in October 2007, having been blamed in parliamentary committee hearings for not recognising the risks of the bank's financial strategy and thereby "harming the reputation of the British banking industry."

"harming the reputation of the British banking industry" - not quite the same as almost bringing the entire UK economy down is it? "

What a crock of crap! "bringing the entire UK economy down" Put your brain in will ya!

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By (user no longer on site)
over a year ago


"He was given something that was later realised he didn't deserve, well done everyone concerned

Royals, take note."

If only!

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By *landPeggyCouple
over a year ago

Holland !

Off with their heads ..........

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By (user no longer on site)
over a year ago


"Off with their heads .........."

I was thinking of starting on the one with the ears.

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By *ugby 123Couple
Forum Mod
over a year ago

O o O oo

Ok let's keep it civil please.

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By (user no longer on site)
over a year ago


"Ok let's keep it civil please."

Bugger I missed what you removed!

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By *landPeggyCouple
over a year ago

Holland !


"Bugger I missed what you removed! "

Or who

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By (user no longer on site)
over a year ago


"Bugger I missed what you removed!

Or who

"

The one with the ears

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By (user no longer on site)
over a year ago

I'm sure the man and his millions really don't give a flying fanny-fart about the loss of a title. These days, "knighthoods" are not worth the parchment they're printed on.

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By (user no longer on site)
over a year ago

Did Fred the Shred leave the bank in the red?

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By (user no longer on site)
over a year ago

I don't think he should have be honoured in the first place. Afterall he was being richly rewarded for doing his job.

He has been made a high profile scapegoat whilst many have retained their jobs. Is he any worse or better than Archer?

A poor Tory attempt at seeming to do the right thing whilst doing down Labour who were in power when the Knighthood was awarded. Shameful.

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By *landPeggyCouple
over a year ago

Holland !

There's limerick potential, and haiku potential, fred has both.

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By (user no longer on site)
over a year ago

Isn't it the Queen who awards and removes Honours? Not the government? Genuine question but interesting in the light of all the antu-Tory statements.

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By *ugby 123Couple
Forum Mod
over a year ago

O o O oo


"Ok let's keep it civil please.

Bugger I missed what you removed! "

I didn't remove anything

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By *unksAliveCouple
over a year ago

york

when he all that resposibility i bet he had lots of sleepless nights now he can have lots of knightless sleeps

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By (user no longer on site)
over a year ago

The Forfeiture Committee decide who will be stripped of the awards.

I wonder how often they sit and how much they are paid!

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By *landPeggyCouple
over a year ago

Holland !


"Isn't it the Queen who awards and removes Honours? Not the government? Genuine question but interesting in the light of all the antu-Tory statements. "

Damn you got me Googling.

It appears that Lady Thatcher is eligible for "the order of the Garter", which, while trying not to be political, raised a smile here.

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By (user no longer on site)
over a year ago

He shouldn't have got the thing in the first place, he did his job, and not very well at that it appears! He hardly did something above and beyond the call of your normal civic duty! (he hardly came up with some new theory of banking and economics that fairly helped everyone)

Although i do think stripping him of it is all a bit petty and party political now (the timing certainly) unless other banking heads are investigated and striped of any honours for "services to banking" if found to be equally culpable.

Im more annoyed he was allowed to keep the performance related enhancements to his severance package and pension!

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By *waymanMan
over a year ago

newcastle


"Will MAtthew Ridley, chairman of Northern Rock when it went down, be stripped of his title when his dad pops his clogs?

I'd guess not. A lifetime of Tory party donations and an uncle who was the scummiest of Thatcherites have made sure Matthew escaped Northern Rock without a blot on his escutcheon.

How ambiguous you are with the facts sometimes, espeically if you need to be to support your anti-Tory stance.

Shall we enlighten everyone else to what Ridley was to Northern Rock?

From Wiki:

Matthew Ridley was non-executive chairman of Northern Rock from 2004 to 2007, earning £300,000 a year, having joined the board in 1994. His father had been chairman from 1987 to 1992 and sat on the board for 30 years.

In September 2007 Northern Rock became the first British bank since 1878 to suffer a run on its finances at the start of the credit crunch. It was forced to apply to the Bank of England for emergency liquidity funding, following problems caused by the US subprime mortgage crisis. Ridley resigned as chairman in October 2007, having been blamed in parliamentary committee hearings for not recognising the risks of the bank's financial strategy and thereby "harming the reputation of the British banking industry."

"harming the reputation of the British banking industry" - not quite the same as almost bringing the entire UK economy down is it? "

Been to Blagdon to tug your forelock have you?

Seriously, Matt Ridley got a gentle ride compared to Fred the Shred - as I remember it the CE of NR, Adam APplegarth, who reported to Ridley, got paid to go and play cricket for the summer. It's a bit different to the Way Fred the Shred has been publicly humiliated to distract the public from the rest of the news.

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By (user no longer on site)
over a year ago

Why are people who make a lot of money knighted anyway. Most of them pay accountants huge sums of money to dodge paying tax, actually its the taxman who pays him as they're tax deductible.

Why is any businessman, they went into business for purely selfish reason, not that I'm condemning it, but why does that deserve the countries thanks.

Why not thank the country for providing the opportunity and pay your fucking tax.

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By (user no longer on site)
over a year ago

Should have gone further in my opinion and removed the pratts pension as well

If the only risk in that kinda job is losing summat taht means fuck all nowadays anyway (should only be given to people who have striven for others not just themselves then it may mean summat again)

Then its bloody good work if ya can get it xx

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By *umpkinMan
over a year ago

near the sounds of the wimborne quarter jack!

It was explained on the Jeremy Vine show today that it was because Fred The Shred`s f*ck up led to hime losing his "banking qualifications", a breach of whatever it was and under those grounds, he was bound to lose his Knighthood. He is not alone as recently, a high ranking teacher lost her Dameship or whatever it is you call the award of Dame when it transpiered she f*cked up big time in her job just Fred did.

I wouldn`t be at all surprised if this is just the tip of the iceberg and I hope those who get their awards taken away get the same publicity that Fred has!

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By (user no longer on site)
over a year ago


"Goodwin oversaw - as CEO - a suicidal multi-billion-pound deal to buy Dutch rival ABN Amro at the height of the financial crisis in 2007, which led to RBS having to be bailed out to the tune of £45bn by taxpayers.

Clearly Goodwin, with corporate greed and an overpowering desire to push RBS ahead of everyone else in the banking sector, had his own safety mechanisms switched off and failed to see the damage this deal was doing to RBS and the impact it was likely to have on the entire sector and, beyond that, the wider economy.

Businesses have gone bust because of the fall out of what Goodwin did as CEO of RBS. Livelihoods and have been lost and investment portfolios of ordinary people have collapsed because of what Goodwin did. The recession might have always been on the cards but he was certainly the trigger for it, and on that basis he should be fookin jailed, not knighted!"

He was not the trigger for the recession or the credit crunch. You really should get your facts right, what you've said is simply not accurate.

Goodwin certainly made some errors in hindsight, but be under no illusion, he wasn't the only one!

He's obviously now being made a scapegoat and political football.

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By (user no longer on site)
over a year ago


"he is a banker,why shoud there be sympathy, as for loosing his knighthood, so what...what prestigedoes a title hold, he is human ike us all. titles mean nothing.

wow harsh! Just because he is a banker he shouldn't get sympathy? "

I think the poster is implying a lack of perspective. People are losing their jobs, their homes, their whole lives ruined. A nighthood is just a title.

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By (user no longer on site)
over a year ago


"Isn't it the Queen who awards and removes Honours? Not the government? Genuine question but interesting in the light of all the antu-Tory statements. "

tch, coooooerrrr, what century you living in?

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