The only good thing I can say about bankers is they are better than banking regulators (and their political masters) so I have little regard for the likes of Fred Goodwin.
I was listening to the BBC this morning and to put it bluntly they got right up my nose. The BBC seemed to support the idea that bankers bonuses should be repaid if the bank didn't actually make money in the long term. However this morning they were attacking the withdrawal of Sir Fred's knighthood. But hang on, Fred got the knighthood as a cherry on his pension for services to banking and his bank didn't make a profit in the long term.
So Fred has been forced to repay his knightly bonus which seems to be exactly in line with BBC thinking. Makes you wonder if all the great and the good at the Beeb who are expecting their honours in due course are worried by the precedent.
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