Former banking bosses say sorry (but check their bonuses!)

2

'The former bosses of the two biggest UK casualties of the banking crisis have apologised "profoundly and unreservedly" for their banks' failure. Former Royal Bank of Scotland chief executive Sir Fred Goodwin told MPs on the Treasury Committee he "could not be more sorry" for what had happened.'

Fred's salary and bonus in 2007: £4,190,000

'But Sir Fred said if bankers felt they were not paid enough, they would leave.'

Er. Okay.

'Sir Fred Goodwin added he had lost around £5m on the value of his shares in 2007, although he stressed that he was not complaining.'

There are tears in my eyes. Follow the link below to read the whole BBC article.

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Comments

What about his £16 million pension? Thats almost 700 grand a year for life.
http://news.bbc.co.uk/1/hi/uk_politics/7914993.stm

Vince Cable's got the right idea for a politician - "Name and shame high paid" (http://news.bbc.co.uk/1/hi/uk_politics/7929664.stm)

Fred Goodwin's home and car vandalised (http://uk.reuters.com/article/businessNews/idUKTRE52O1TW20090325)

We absolutely cannot condone this kind of behaviour but it all points to bad judgement and greed on his side - he should do the right thing and give it up. And why is he holding onto his title? Knighted for "services to banking" - almost the entire UK population has done less harm to the banking industry!

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