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Prime minister David Cameron has warned former Royal Bank of Scotland chief Sir Fred Goodwin may be stripped of his knighthood.
Speaking in London, Cameron said Goodwin's knighthood will be referred to the honours forfeiture committee who would decide whether to remove the knighthood he was awarded for services to banking in 2004.
Cameron said the committee would take into account the FSA's recent report into the collapse of RBS, which was effectively nationalised in 2008 after making a £24.1bn loss with Goodwin at the helm.
"I think it is right that there is a proper process that is followed for something of this order. There is a forfeiture committee in terms of honours that exists and it will now examine this issue," Cameron said, according to the Guardian.
"Obviously it will want to take account of the FSA report which I think is material and important because of what it says about the failures of RBS and what went wrong and who is responsible and the rest of it."
Cameron said the government would restrict cash bonuses at state-owned RBS and Lloyds to a maximum of £2,000 for a second successive year.
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Fred's Knighthood
I'll bet Fred is shaking in his boots - if he is wearing any on his luxury yacht.
Posted by: Bill Wells
20 Jan 2012 | 09:46
Hypocrisy
More blustering politics to whip up public sentiment and unfortunately the media pandering to the sound bite generation. Now I'm no fan of Fred myself, but if they are going to start stripping peerages, half the Lords would be empty given the selection of criminals, perjurors and miscreants that currently hold seats. For goodnes sake start with Archer, he makes Goodwin look like Mother Theresa...
Posted by: Carl Leonard
20 Jan 2012 | 10:18
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Please don't stop at knighthood !
What a lot of people would really support is the stripping (and claw-back)of some of the huge bonus payments paid out as well.
RBS now seem to start to be exposed for the systemic rip-off they became with two insurance subsiduaries now fined for fiddling customer complaints - something that the main-stream Nat-West and RBS have also been guilty of.
Such a shame overall, given the historically, fairly good names of Nat West and RBS (for banks, anyway !) for their name and reputation to be dragged so low at the direction of senior staff.
Posted by: Philip Curnow
20 Jan 2012 | 09:36
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