Jackie Stewart enjoys a nice sponsorship from RBS (don't know about his relationship with Mr Goodwin) and is, I understand, an ambassador for them around the world.
I expect that explains his intervention, but he is so obviously out of touch on this. The only thing I would add is how on earth does someone like Archer keep his peerage when he's been sent to prison for his own little works of fiction??
Fred Goodwin, the former chief executive of the Royal Bank of Scotland, has been stripped of his knighthood by the Queen on the advice of the forfeiture committee.
It was awarded by the previous Labour government in 2004 for services to banking .
The chancellor, George Osborne, told Sky News: "I think we've got a special case here of the Royal Bank of Scotland symbolising everything that went wrong in the British economy over the last decade.
"Fred Goodwin was in charge and I think it's appropriate that he loses his knighthood."
Both Cameron and Ed Miliband had called for Goodwin to lose his knighthood.
"In 2008 the government had to provide £20bn of new equity to recapitalise RBS and ensure its survival and prevent the collapse of confidence in the British banking system. Subsequent increases in government capital have brought the total necessary injection of taxpayers' money in RBS to £45.5bn.
"Both the Financial Services Authority and the Treasury select committee have investigated the reasons for this failure and its consequences.
"They are clear that the failure of RBS played an important role in the financial crisis of 2008-09, which together with macroeconomic factors triggered the worst recession in the UK since the second world war and imposed significant direct costs on British taxpayers and businesses. Fred Goodwin was the dominant decision maker at RBS at the time.
Ed Miliband told Sky News he welcomed the move. But he added: "I think it's only the start of the change we need in our boardrooms. We need to change the bonus culture and we need real responsibility right across the board. I think that is what the public want, I think that is what government working with the private sector needs to deliver."
If Goodwin had received his honour for charitable work then his failures at work should not affect his knighthood. However it was for "services to banking", he was at the helm of one of, if not the, worst banking disasters ever and therefore should hold the title anymore. Stewart is going on about Goodwin being singled out. Well Jackie, the buck stops with the man at the top. Whether other RBS board members, or anyone else in the financial sector, lose their titles etc is irrelevent.
TelMc32he only thing I would add is how on earth does someone like Archer keep his peerage when he's been sent to prison for his own little works of fiction??
Don't forget about Lord Taylor and Lord Hanningfield who went to prison for 'creative accountancy' over their expenses but are now back and able to claim their expenses again. They can only be stripped of their award by an Act of Parliament.
Jackie Stewart enjoys a nice sponsorship from RBS (don't know about his relationship with Mr Goodwin) and is, I understand, an ambassador for them around the world.
I expect that explains his intervention, but he is so obviously out of touch on this. The only thing I would add is how on earth does someone like Archer keep his peerage when he's been sent to prison for his own little works of fiction??
Unfortunately you can't take a peerage away from someone (why I don't know).
I'd like to add Mark Thatcher though to the list of people who should be stripped of their "honours", in his case he inherited the baronetcy.
what is even more worrying about 'lord' Archer is that the main witness against him in the 'prostitution/libel' case was killed in a hit and run 'accident'. Shades of Stephen Ward, if anyone remembers him. As for Stewart, it's just the Jockofiosis looking after one another. Has anyone asked Andy Murray for his opinion yet ?
I think Stephen Ward (who was a defendant) committed suicide whereas Monica Coghlan (a witness) was run over by an escaping robber. I don't see any connection between the two events but maybe Lincs can explain the link (no pun intended)
Anybody who sticks up for that moron , Fred Goodwin , deserves all the criticism he gets. The man culled jobs at RBS , left , right and centre and lined his own pockets with the money he saved. In my opinion he should be locked up.
Stewart did admit he was a 'friend' of Goodwin, but I thought his defense of his 'friend' was rather stretching things, even in that context?. I have alway's thought that Stewart was a good commentator, but I fear his comment's were clouded by his association with Goodwin. Of course there are others that share the responsability, such as the FSA, and the other board members, and the goverment of the time...... Still has his pension as well, now perhaps that should have been 'withdrawn'.? As it is 4 years since this episode, 'I suppose it is better late than never' Bet there are a few 'nervous' people about this, hoping that the 'scapegoat' takes the rap?
Its my understanding that some of the politicians who are now asking for (sir) Fred to be hung drawn and quartered did very well in the 90's following Freds massive success as a banker....Hmmm.... Personally I think he should keep the title.
I think Stephen Ward (who was a defendant) committed suicide whereas Monica Coghlan (a witness) was run over by an escaping robber. I don't see any connection between the two events but maybe Lincs can explain the link (no pun intended)
I wouldn't expect a narrow minded twit like you to see any connection .. you 'talk' like a horses arse and seem to have the brain of a rocking horse
I think Stephen Ward (who was a defendant) committed suicide whereas Monica Coghlan (a witness) was run over by an escaping robber. I don't see any connection between the two events but maybe Lincs can explain the link (no pun intended)
I wouldn't expect a narrow minded twit like you to see any connection .. you 'talk' like a horses arse and seem to have the brain of a rocking horse
Crikey - bit early in the day for personal abuse isnt it?
I'd rather he kept his knighthood and had his pension cut. Feels like the government is playing to the galleries like all this recnt nonsense about transparency over bonuses but the real financial cuts and changes to contracts are for the workers. In Japan, CEOS have their salaries caped as a percentage of workers earnings and the are a capitalist country, there are real options. Making one bloke a scapegoat doesn't do it for me but hard to feel too sorry for a millionaire who proved a tad incompetent.
I think Stephen Ward (who was a defendant) committed suicide whereas Monica Coghlan (a witness) was run over by an escaping robber. I don't see any connection between the two events but maybe Lincs can explain the link (no pun intended)
I wouldn't expect a narrow minded twit like you to see any connection .. you 'talk' like a horses arse and seem to have the brain of a rocking horse
Crikey - bit early in the day for personal abuse isnt it?
Early ? .. the day is nearly half done .. what time zone are you in .. oh, knowing you, the middle ages
I don't intend to drop to your level Lincs but it was a genuine question and your failure to supply any answer other than a childish insult demonstrates that you have none. Are you able to provide ANY rational answer?
Definitely a case of appearing to be tough on bankers during the bonus season. Cameron will claim to be taking action when in fact all he's done is offer up a convenient scapegoat for the masses.
Personally, I'd rather he'd kept his knighthood but we had a proper enquiry into the massive corporate misgovernence, with criminal charges if needed, a proper restructure of the whole banking regulatory system and all those responsible brought to account.
Unfortunately this would be all be a bit too close to home for politicians of all parties so what we get is Fred the Shred losing something he couldn't give a monkeys about anyway.
The multimillionnaire and personal friend of Fred's, Jackie Stewart can still do one though...
what is even more worrying about 'lord' Archer is that the main witness against him in the 'prostitution/libel' case was killed in a hit and run 'accident'. Shades of Stephen Ward, if anyone remembers him. As for Stewart, it's just the Jockofiosis looking after one another. Has anyone asked Andy Murray for his opinion yet ?
I think Goodwin's a tool, but the whole process has been one of public witch hunt and political point scoring rather than anything to do with his non-performance.
If I was offered a Knighthood I didn't deserve, I would prefer not to have it, but if somebody offered me nice money I didn't deserve, I would be more than happy to keep that.
Definitely a case of appearing to be tough on bankers during the bonus season. Cameron will claim to be taking action when in fact all he's done is offer up a convenient scapegoat for the masses.
Personally, I'd rather he'd kept his knighthood but we had a proper enquiry into the massive corporate misgovernence, with criminal charges if needed, a proper restructure of the whole banking regulatory system and all those responsible brought to account.
Unfortunately this would be all be a bit too close to home for politicians of all parties so what we get is Fred the Shred losing something he couldn't give a monkeys about anyway.
The multimillionnaire and personal friend of Fred's, Jackie Stewart can still do one though...
Cant see how bringing Cameron into this is relevant. Labour appointed knighthood and no politician sits on the forfeiture committee. Some commentators have implicated Cameron in the million pound bonus Hester was eligible for, when his contract was actually given to him by the last administration
'rational'.. you will not think it so.. BUT .. Lord Archer, the man with the fragrant wife, a confidante and lickspittle member of the Thatcher entourage in one corner and virtually the whole of the MacMillan government and many 'aristocrats' in another corner, both put at risk through accusations of consorting with prostitutes. The alleged 'pimp' Ward, in the Keeler/Profumo/MacMillan embroglio, and the alleged call girl involved in the Archer libel case, Coghlan, both die in unusual if not mysterious circumstances. As was said by someone far more eloquent than me..'when have you known a pimp to have either the motive or guts to kill himself', in the Ward case, and how convenient for lord Archer that Coghlan was in the wrong place at the wrong time to be crushed almost to death when her car was hit by a drug addict's vehicle as he attempted to escape from a bungled robbery. Coghlan was not helped by the fact that she spent over an hour trapped in the wreckage of her car. She died in hospital a few hours after the crash. With medical friends like that, who needs enemies. My 'point' is that some people who might be considered a danger to the ongoing prosperity and unsullied reputations of tossers in high places have a propensity to pop their clogs (i.e. die) before their alloted 3 score and 10.
Comments
I can barely function I am so gutted about it.
One more thing, Who's Fred the shred and what has he done?
I expect that explains his intervention, but he is so obviously out of touch on this. The only thing I would add is how on earth does someone like Archer keep his peerage when he's been sent to prison for his own little works of fiction??
It was awarded by the previous Labour government in 2004 for services to banking .
The chancellor, George Osborne, told Sky News: "I think we've got a special case here of the Royal Bank of Scotland symbolising everything that went wrong in the British economy over the last decade.
"Fred Goodwin was in charge and I think it's appropriate that he loses his knighthood."
Both Cameron and Ed Miliband had called for Goodwin to lose his knighthood.
"In 2008 the government had to provide £20bn of new equity to recapitalise RBS and ensure its survival and prevent the collapse of confidence in the British banking system. Subsequent increases in government capital have brought the total necessary injection of taxpayers' money in RBS to £45.5bn.
"Both the Financial Services Authority and the Treasury select committee have investigated the reasons for this failure and its consequences.
"They are clear that the failure of RBS played an important role in the financial crisis of 2008-09, which together with macroeconomic factors triggered the worst recession in the UK since the second world war and imposed significant direct costs on British taxpayers and businesses. Fred Goodwin was the dominant decision maker at RBS at the time.
Ed Miliband told Sky News he welcomed the move. But he added: "I think it's only the start of the change we need in our boardrooms. We need to change the bonus culture and we need real responsibility right across the board. I think that is what the public want, I think that is what government working with the private sector needs to deliver."
http://www.sportspromedia.com/notes_and_insights/monaco_gp_prices_go_through_the_roof/
http://www.dailymail.co.uk/news/article-1152537/Jackie-Stewart-holds-4m-RBS-contract-bank-prepares-axe-30-000-jobs.html
I'd like to add Mark Thatcher though to the list of people who should be stripped of their "honours", in his case he inherited the baronetcy.
The man culled jobs at RBS , left , right and centre and lined his own pockets with the money he saved. In my opinion he should be locked up.
As it is 4 years since this episode, 'I suppose it is better late than never'
Bet there are a few 'nervous' people about this, hoping that the 'scapegoat' takes the rap?
Personally I think he should keep the title.
Just out of interest, you do know what a 'time zone' is, dont you?
Personally, I'd rather he'd kept his knighthood but we had a proper enquiry into the massive corporate misgovernence, with criminal charges if needed, a proper restructure of the whole banking regulatory system and all those responsible brought to account.
Unfortunately this would be all be a bit too close to home for politicians of all parties so what we get is Fred the Shred losing something he couldn't give a monkeys about anyway.
The multimillionnaire and personal friend of Fred's, Jackie Stewart can still do one though...