72 Point Blog National News, PR and Market Research Specialists…

27th   Feb

BRITAIN’S WORST BANKER…

So Sir Fred Goodwin, dubbed ‘Britain’s Worst Banker’, won’t give back a penny of his near £700,000 a year pension? Can you honestly blame him?

Would YOU be prepared to sacrifice money that you had earned over your entire working career? I know I wouldn’t – no matter how much of a mess my company was in.

Imagine you drove a bus for 20-years and ploughed a sizeable chunk of your earnings each month into a fund to see you right when you’ve parked your double-decker up for the last time and are old and grey.

Then, on your last day, some out-of-control passenger grabs the steering wheel and sends your bus careering into eight vehicles, including a brand new Ferrari, leaving your company with a huge bill for damages and compensation.

Would you expect your boss to call you in and demand right there and then that you hand over some of that hard- earned cash? I think not.

So give this guy a break, for God’s sake. If he buckles to popular demand and hands over cash, where does that leave us?

Would Didier Drogba wander into the changing room after yet another Chelsea defeat at Stamford Bridge, grab his wallet and start handing out £20 notes to fans in the Matthew Harding Stand?

And what about Gordon Brown? If he were to quit next year after losing the General Election would he be asked to give back a slice of his more than substantial pension because the country is in a far worse position than it was when he took over?

Of course he wouldn’t – and neither should he. And ultimately, who is responsible for more job losses Goodwin or Brown…. . As the boss of RBS Sir Fred may have been greedy, selfish, ignorant – or he may be none of those things – but he has paid into his pension throughout a long - and mostly successful – career.

And were all those who worked for him moaning and groaning about his salary etc when they were filling their boots with the kind of bonuses most of us could only ever dream of earning? Of course they weren’t.

One man is not responsible for what happened at RBS, he played a part but he would have had a board behind him who would have ensured their views and opinions were heard.

So come on, let Sir Fred walk away with his money and let’s learn from his mistakes. After all he wouldn’t be the first person to enduring a humiliating fall from grace after a glittering career would he? Ask Michael Jackson and George Michael.

Written by Doug