Friday, February 27, 2009

Sir Fred is the Fuckwit this Friday

Good work if you can get it - earn £20 million in ten years, feck up the banking system, get knighted for it, your wife becomes a lady, retire at age 50 and then trouser a pension of £630,000 a year which if he lived to a ripe old age could be upto £16 million! Where do we apply?

The treasury did politely phone Sir Fred (knighted for his services to banking) and ask not to be such a greedy bastard but he politely told them to "fuck off" (read his letter here) in his letter to the treasury.
Now some on the left have argued that his pension is a diversion to hide how bad things really are in the banking world. But I don't buy that - Sir Fred Goodwin is a greedy bastard, how many other workers are even allowed to retire at 50 , local government workers and other workers have been told we have to work til we retire at 65 with reductions in our pensions - indeed will we even have a pension when we retire because of the likes of Fuckwit Friday Fred? I sometimes wonder if the public sector pensions are being used to gamble on a failing and ailing bank system.

Woolies staff didn't even get redundancy pay and Cowley car workers get given an hour's notice with no pay off but Fuckwit Friday Fred gets millions and millions of pounds for free falling capitalism (and no he isn't an undercover revolutionary!)

Look how brilliant the ruling class thought he was (we always thought he was a fecker)

  • December 2002 - Forbes "Businessman of the Year" by the global edition, which described him as an original thinker with a fast-forward frame of mind who had transformed RBS from a nonentity into a global name. (RBS made the most profit of any other bank in the world at this point, they call it profit, we call it theft)
  • April 2003 - No.1 in Scotland on Sunday’s Power 100
  • December 2003 - "European Banker of the Year" in 2003 (or was that "wanker")
  • June 2004 - Knighted in the Queen's 2004 Birthday Honours list, for his services to banking.
  • July 2008 - awarded an honorary fellowship by the London Business School

However by February 2009 Freddie's evil empire RBS reported that while Sir Fred was at the helm it had posted a loss of £24.1bn, the biggest loss in UK corporate history. Yes £24.1 bn!
He admitted that he had no banking qualifications to the Treasury Select Committee of the House of Commons on 10 February 2009, yes, Goodwin has no technical bank training, and has no formal banking qualifications. How does that work? In January 2009 The Guardian's City editor Julia Finch identified him as one of twenty-five people who were at the heart of the financial meltdown.

Check out what the Left Banker Blog has to say on the whole debackle here
So enjoy yor new accolade Sir Freddie Fuckwit - you are a Friday Fuckwit!!!