Date: 2025-05-01 Page is: DBtxt003.php txt00002287
People ... Bankers in UK
Fred Goodwin and Stephen Hester
About the rewards for Fred Goodwin, former CEO of Royal Bank of Scotland and Stephen Hester, the current CEO
COMMENTARY
The text of the first video reminds the viewer that while Fred Goodwin has been stripped of a Knighthood, he has not been stripped of his pension. The authorities have still not taken much action to strip bank executives of their freedom and send them to jail where that have cut corners and created socio-economic mayhem with their less than honorable banking and finance activities. Shame on them.
In the second video it is reported that the current CEO of the Royal Bank of Scotland will waive his near one million pound bonus for 2011. The Prime Minister argues that the bank ... now majority owned by taxpayers ... had a contractual obligation to pay the bonus. A good example of how rule of law has gone mad!
Peter Burgess
Former RBS CEO Fred Goodwin Stripped of Knighthood
Feb. 1 (Bloomberg) -- Fred Goodwin, Royal Bank of Scotland Group Plc’s former chief executive officer, was stripped of his knighthood by the U.K. authorities after he led the 285-year-old lender into the world’s biggest bank bailout. Goodwin was awarded the honor, entitling him to call himself Sir Fred, in the name of Queen Elizabeth II in 2004. Scarlet Fu reports on Bloomberg Television's 'InsideTrack.' (Source: Bloomberg)
RBS Chief Stephen Hester Waives $1.5 Million Bonus
Jan. 30 (Bloomberg) -- Royal Bank of Scotland Group Plc Chief Executive Officer Stephen Hester will waive his 963,000-pound ($1.5 million) bonus after the payout by the government-controlled bank triggered a political furor. Caroline Hyde reports on Bloomberg Television's 'First Look.' (Source: Bloomberg)