Inside RBS Programme Currently Showing On BBC2

[Philtaz]

Anyone watching this? It is unbelievably shocking and I'm frankly aghast that Fred Goodwin and the board of RBS are not facing prosecution.

Furthermore, how can a man who oversaw the biggest banking collapse in history continue to receive a pension of £703,000 per annum for such abject (I dare to say criminally negligent) failure?

[SeaJayPea]

I think, to be fair to the ar$ehole, he did eventually accept a much lower pension. They said £350,000 at the end of the programme. So that's OK then. Can't understand why he hasn't been stripped of his knighthood. He got it for 'services to banking'.

He's not the only one of these guys who should be in jail, but it'd be a bl00dy good start.

[factor-fiction]

I agree (subject to the correction regarding Fred's pension). I was shocked by the way he said he distorted the truth ("we have no plans to.. " and then shortly afterwards he does it" and "we have no subprime business") and by his naivety/pigheadedness in proceeding with thehuge ABN AMRO deal without doing the proper checks. The Board though seemed very weak as I assume all were scared to disagree with him.

It's a shame that many honest, hardworking and honourable people working in banking have been tarred with the same brush and that so many bank staff and shareholders lost jobs and share savings because of the actions of largely one man

[Philtaz]

I agree factor30. As usual in these cases I'm unsure as to whether the other board members were reluctant to challenge him or if they were caught up in a cycle of greed and ever increasing pensions/share options.

It reminded me of the Barings scandal. The figures Nick Leeson was producing were astounding and literally were too good to be true, but as those above expected to benefit from his supposed financial dealing and acumen none thought to double check his figures or scrutinise him, and we all know what happened as a result......

As for Fred's pension it seems to be a matter of conjecture. Whatever the final figure, yearly sum and lump sum he received I doubt he'll be submitting a form for winter fuel allowance.

[Everhelpful]

He will still get Winter Fuel Allowance if he is over 60,beggars belief doesn't it.

[Philtaz]

Afraid not Everhelpful, he's only 53 so must struggle for another 7 years before he can apply.

However will he cope?

[Everhelpful]

Bloody tough luck for him,eh,philtaz.