Cameron: Fred the Shred may be stripped of knighthood

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 th...