Jump to content

Mr Fred Goodwin loses his knighthood

Recommended Posts

why did they knight him in the first place?


He made a series of acquisitions turning RBS from a small bit-part player into one of the largest banks in the world.


Everyone thought it was a brilliant strategy, and everyone wanted to pile as much money in as possible, until one of the acquisitions went wrong and bankrupted the company, at which point everyone has decided that he personally is to blame for the whole fiasco.


There was probably some similar guy that was held solely responsible for the bubble bursting in 1929 after untold millions of people had been borrowing money they couldn't afford to buy shares that were over-priced, in the fatuous belief that the prices could only ever go up. After all, the general public is never to blame no matter how stupidly it behaves.

Link to comment
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.