Fred Goodwin.

[Peter]

Was the stripping him of his Knighthood a knee jerk reaction or the proper course to take?

Remember, Fred Goodwin was not a banker by profession, but was brought in to increase the business and expand the bank.

I once had a dispute over interest charges with RBS and getting no proper answers from the Bank I wrote to the then Sir Fred. I got an answer from him - personally signed - which said that I was right and £146 was returned to me.

[Big E]

i think it is an absolute joke that the current boss had to give up his bonus. He has turned the bank around and stop things from getting any worse. Really gets on my nerves the way people jump up and shout about stuff like that. As has been pointed out on another forum i frequent you cannot have just any old half wit running a bank hence why it costs. Also for the amount he is in the news, pressure etc he is underpaid imo

[neilw]

Well the best solution would be to give him a bigger wage and should he not hit targets, reduce costs improve efficency etc. he is hit with a penalty or reduction in the following years salary of foregoes any scheduled pay increase.

He should be paid for the job the bank want him to do, times have changed and people no longer except big one off bonus payments especially to bankers who everyone believes got us as a nation into the mess we are in. Hard to please everyone I know but that is what I would do.

[Peter]

Well the best solution would be to give him a bigger wage and should he not hit targets, reduce costs improve efficency etc. he is hit with a penalty or reduction in the following years salary of foregoes any scheduled pay increase.

He should be paid for the job the bank want him to do, times have changed and people no longer except big one off bonus payments especially to bankers who everyone believes got us as a nation into the mess we are in. Hard to please everyone I know but that is what I would do.

Correct.  A bonus should apply to money at risk where 100% of earnings applies to reaching a target, 110% etc for achieving better than target. It used to be held by management consultants that bonus should not be more than 20% of guaranteed earnings.

[Pop Cider]

He received his Knighthood for services to banking (one would expect), and he has lost it for the same reason.

Somehow I can't see him losing much sleep about losing his gong, now if they had bladdered his £650,000 a-year pension, just like his banking methods have bladdered thousands of pension funds, that may cause him some concern.

[hoss]

26 000 pound is enough to live on say the government with that bonus he would have been on 1.7 million approx 68 times more than that hmmm plus the rest of the board also cum on play the game.

[craigies6pack]

Goodwin is a twix of the highest order. His actions have caused job losses in their thousands. He duped his staff into buying into the fallacy that there was no end to money that wasn't there.

To buy up a bank that was laden with toxic debt (ABN Amro) for way over the odds and without doing due dilligence tests was to put it plainly, lunacy, bordering on criminality.

He's a megalomaniac and I for one wouldn't shed a tear at reading his obituary.

His actions have left countless people struggling and without savings and has also devalued many a pension scheme and also the good name of a former banking giant.

[vikingstorm]

i think it is an absolute joke that the current boss had to give up his bonus. He has turned the bank around and stop things from getting any worse. Really gets on my nerves the way people jump up and shout about stuff like that. As has been pointed out on another forum i frequent you cannot have just any old half wit running a bank hence why it costs. Also for the amount he is in the news, pressure etc he is underpaid imo

it makes me laugh out loud when i hear financial experts.............................the y know next to nothing and we should not listen to them....fred goodwn was in charge of a 45 billion loss.........................he should be held accountable