fred goodwin rbs

[gina32]

sorry if this has already been posted but what do you think of the fact that he isnt going to give back any of the pension money?

[sqad617]

Good on im......you keep it Sir Fred.

A contract was given to him which involved a bonus at the "discretion" of the bank and this was not picked up by Lord Myners, a wheeler dealer himself, on behalf of the government.
He has been asked to give some of it back on "moral grounds" by the same people who have had their snouts in the "expenses trough"

If I was thinking of expanding my business in UK, I would be worried that, when push came to shove, it would not be honoured and I would invest elsewhere.

Sir Fred has done nothing illegal and "honour" is a joke with this government.

Don't give a penny back Sir Fred.

[warpig3]

It would appear that contractually he is entitled to it, so it is his.

What do I think?

I think it stinks.

[paraffin]

I think that purely from a moral standpoint, most people believe that it's outrageous and that he should "surrender" some of his "ill-gotten gains".

However, if any of us put ourselves in his position, and you feel you had complied with the rules, would we want to give up any of our nest egg?

It's one of those situations where it's impossible to give an accurate response unless we found ourselves in a similar predicament.

[funnygirl]

They employed him in good faith and therefore entitled to keep his money.

How would you like it, if you worked for a company and suddenly they turned around and said "you're not getting any pension"????

[Panic Button]

That's not the point funnygirl.

He retired early at 50, but is getting the full pension as if he had worked on until retirement age.

They didn't have to give him that.

They could and should havesacked him for gross incompetence.

At least he won't really be able to enjoy it, unless he changes his name.

[sqad617]

Panic Button

"At least he won't really be able to enjoy it, unless he changes his name."

Nonsense...in 2yrs time his name will be forgotten.

"He retired early at 50, but is getting the full pension as if he had worked on until retirement age."

That was at the discretion of the bank, which Lord Myners said he didn't know about ???????

[gina32]

and a large chunk of it isnt taxed, how does that work then????