ALEX BRUMMER: Time to revisit former Royal Bank of Scotland boss Fred Goodwin ...
The speed with which the establishment, in the shape of the forfeiture committee has moved to deprive Fred Goodwin of his knighthood – for bringing the honours system into ‘disrepute’ – is impressive.
Its strategy contrasts, however, with the pusillanimous way in which the former Royal Bank of Scotland boss has been dealt with by City regulator the Financial Services Authority and the Department of Business, which have so far attempted no disciplinary action despite finding him largely culpable for the biggest and most damaging bank failure in British history.
To all intents and purposes, RBS was bust well before Lehman went down in September 2008, and was saved from the knacker’s yard only by tens of billions in secret loans from the Bank of England designed to keep the contents of cash machines from running out.
The consequences for Britain’s financial system and the wider economy have been disastrous, largely because of the ambition and recklessness of a single person.
The final insult is that he is still receiving what is effectively a taxpayer-funded pension of £342,500 a year for life from RBS.
So we have the oddity of the person seeking to turn around RBS, Stephen Hester, being required by the political classes to hand back his 2011 bonus of just £1m, while Fred Goodwin’s pension goes sailing on.
Now that Goodwin is finally being publicly humiliated for his errant business and personal behaviour, it is almost certainly time that some of the other figures responsible for the banking implosion took their punishment too.
It is astonishing, for instance, that Andy Hornby is allowed to hold down a senior business job at Gala Coral, and that his predecessor, Sir James Crosby – one of the authors of HBOS’s risky culture – have suffered no backlash at all.
Personal Loan Bank O Scotland - News
To all intents and purposes, RBS was bust well before Lehman went down in September 2008, and was saved from the knacker's yard only by tens of billions in secret loans from the Bank of England designed to keep the contents of cash machines from
The fall, which cut the amount outstanding on overdrafts, personal loans and HP to £206billion, was the biggest since records began almost 20 years ago. Anxious shoppers even repaid £16million of credit card borrowing in the run-up to Christmas.
25 (Bloomberg) -- A report on Royal Bank of Scotland Group Plc's near-collapse was changed to remove a section that said Fred Goodwin, the lender's former chief executive officer, “lacked the experience to run an international bank.
In January 2012, the Company agreed with the Royal Bank of Scotland to extend the maturity on its existing term-loan facility to July 1, 2014, and to discontinue quarterly principal payments under the facility (which were previously $33.3 million per
Irish Bank Officials' Association representatives were last night locked in meetings with management of Ulster Bank's parent company, Royal Bank of Scotland. AIB has already signalled it wants to axe more than 2000 jobs, with talks expected to begin in
!! royal bank of scotland personal loans india, Cash Advance in 60 ...
Royal bank of scotland personal loans india Apply online within minutes. Directly Deposited in 1 Hour.Approved Easily & Quickly. Get Payday Loan Now…. royal bank of scotland personal loans india
We see advertisements for quick cash loans every day. “Need quick cash? Want a loan on your own paycheck? Need to pay some bills and acquire creditors off your back?” These financing options can be paydayloans, cash advance loans, check advance loans, post-dated check loans or deferred deposit check loans.
royal bank of scotland personal loans india True, it is possible to still take out payday advances for most of these events, but as much as possible, it’s advisable to just save aside for the kids. You wouldn’t like your debt to gather, would you? Events that fall under this category are usually the house or apartment rent, car payment bills, or other such bills where there is a fixed payment plan set up. royal bank of scotland personal loans india
ROYAL BANK OF SCOTLAND PERSONAL LOANS INDIA Need Fast Cash Advance?. No Faxing, No Credit Check.Fast Approval Cash. Get Cash Fast Today….