Goodwin pension £693,000 P/A. WHO IS RESPONSIBLE

[anarchist 10]

Is this acceptable, and if not, who is to blame?

 

http://news.bbc.co.uk/1/hi/uk_politics/7912651.stm

 

The Treasury has said that banker Sir Fred Goodwin's refusal to give up his £693,000-a-year pension is "unfortunate and unacceptable".

 

Chancellor Alistair Darling had asked him to hand back his £16m pension pot amid anger about rewards for failure.

 

But the ex-RBS boss rejected this in a letter to the Treasury in which he says ministers agreed to the pension deal.

 

In response, city minister Lord Myners said he was not aware at that time that this deal could later be altered.

 

The BBC's Political Editor Nick Robinson said any failure to persuade Sir Fred Goodwin to alter the terms of his pension payout would be politically damaging given the government pledge to crack down on City excesses.

[boyfriday 21]

It appears outrageous that anyone could justify a pension of this amount whoever they are, but this would have been a contractual arrangment made between him and his employers.

 

I can see how the government could legitimately seek to reduce his bonuses, but isn't his pension different? If he had been accused of a criminal offence whilst in office or been dipping his fingers into the business coffers to bump his pension then that might be different, but if its in consideration of his years of service and accumulating salary over that time, maybe there's not a lot the government can do about it.

[bradley1983 10]

Dont really know, but dont you think he looks a bit like Louis Walsh in some pictures?

[Berberis 10]

It’s the Treasury's fault as they agreed it, so the buck stops with the government.

 

Just another ****-up by the chav party that no one will be held to account on.

[neeeeeeeeeek 10]

All of this MUST have been known to the government and they much have agreed it and I am sure they know full well they can't do anything about it. They are just blowing hot air to cover up their compltete complete incompetence, as per usual.

[Berberis 10]

All of this MUST have been known to the government and they much have agreed it and I am sure they know full well they can't do anything about it. They are just blowing hot air to cover up their compltete complete incompetence, as per usual.

 

It now looks as though Mandleson openly lied on radio 4 yesterday about this as he implied he knew nothing, but it’s coming out he did.

 

Why we allow this unelected bafoon anywhere near the UK shores astounds me.

[posthere 10]

16m. ridiculus

[anarchist 10]

It was rather telling to read Robert Preston's report on affair. It makes all the government ministers who are expressing outrage look like incompetant hypocrites.

 

QUOTE...

 

 

"Stephen Hester, the new chief executive, told me this morning that the Government approved the pension settlement with Sir Fred - which is potentially very embarrassing for the Chancellor and the Prime Minister.

I am told that the Treasury did indeed know last autumn that Sir Fred's pension pot had increased to a breathtaking £16m."

[Minimo 59]

They should make him live on the standard old age pension. That'd larn 'im

[neeeeeeeeeek 10]

It's impossible that they could not have known. I don't blame him for refusing it hand it back, the government have tried to blame him personally for the collapse of the bank as if they had not known what it had been doing for years! I hope he embarrasses them as much as possible.

[alchresearch 214]

How can he refuse to give back what he hasn't yet got? Surely the powers that be who pay out the pension can just not make the payment?

[Minimo 59]

Then he'd sue them, and they would have to have a cast iron case to justify overturning a contract which was surely agreed long ago, regardless of recent events?