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Former RBS Leader Has Knighthood Removed

Business  (tags: banksters, Royal Bank of Scotland, Fred Goodwin, corporate corruption, abuse, ethics )

- 2302 days ago -
The former boss of the Royal Bank of Scotland Fred Goodwin has been stripped of his knighthood . . . given the honour by the Labour government back in 2004 but. . . he was criticised when the bank nearly collapsed in 2008. And American banksters?

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Lynn Squance (235)
Thursday February 2, 2012, 6:44 pm
While losing a British knighthood may not mean a lot in North America, it certainly does in the UK. Knighthood is not an honour given lightly, although sometimes you have to wonder why someone received it. But to lose it is a large public slap in the face, and in this case very deserved. The big question still outstanding is 'Will there be further investigation and criminal action taken against Mr Goodwin and other Brit banksters like him?'. The current CEO and the Chairman of the Board of RBS have both forgone their 2011 bonuses (TC's article in Open Thread 02/02/2012)

And what will be instore for American banksters who precipitated the financial crisis with their risk taking? American banksters need to be held crminally liable for their actions. So far, all I have heard is monstrous profits and bonuses to banksters. When will they repay the citizens of the US who bailed them out? When will they sit down and look at what has happened and how it can be prevented from happening again? When will the 'new' Glass-Steagall be in place? If you listen to the Republican/Teabaggers, henchmen for the banksters, regulations will only hurt the recovery. BS! So, back to my original question, wnen will we see banksters in the penalty box and a social injustice set straight?

TomCat S (129)
Thursday February 2, 2012, 9:01 pm
Banksters just can't tell day from knight.

P A (117)
Thursday February 2, 2012, 11:33 pm
Lynn - you are quite right about knighthoods - though many of us question them, the rich and powerful will always find SOME way of showing off the fact that they are so far above us(!). Losing it is almost unheard of - though I long for the days of James 1 - when one man was deprived of his knighthood by having various markers of his rank ceremoniously removed - those were the days!

Seriously though, I do hope there will be legal action taken against grabby Mr Goodwin who grasped millions to his chest despite a national outcry when the bank went under - his actions were unconscionable and there may have been actionable ones in the background we are told - surely there's a hungry clever lawyer out there in need of a cause?

TomCat - LOVED your pun!

Susanne R (235)
Friday February 3, 2012, 12:01 am
And American banksters? Good question! They were bailed out and received bonuses and raises to boot! What's wrong with this picture? The Wall St. bankers wouldn't care if they lost their "knighthood" or any other honor that might have been bestowed upon them. They've sold their pride and dignity to the highest bidder.

Quanta Kiran (67)
Saturday February 4, 2012, 5:24 am

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Saturday February 4, 2012, 7:02 am
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Stelizan L (258)
Saturday February 4, 2012, 7:05 am
ALL 'banksters' should be held accountable for their actions no matter where on this planet and yes, I'd love to see the 'removal of knighthood' being made a public ceremony, it will have much more impact! TomCat's 'pun' is spot on!!

Mary Donnelly (47)
Saturday February 4, 2012, 4:56 pm
Thanks Lynn.

Tom Edgar (56)
Sunday February 5, 2012, 2:26 pm
Small correction The Labor Government did NOT bestow the accolade. That is the Sovereign's prerogative, which is exercised on the advice of the Government of the day., or on the Sovereign's own initiative, but more often from recommendations, usually by the those profiting by donations from would be accolade recipients.e.g Charities, Organisations, Political Parties. In short they are very often bought or gained by toadying to the right people.

Robert B (60)
Sunday February 5, 2012, 5:26 pm
Any banker responsible for the world economy's near collapse needs to be prosecuted. What was done was criminal. We need our banking regulations BACK IN PLACE.

cynthia l (207)
Tuesday February 7, 2012, 1:24 pm
what he did was dishonerable sooo it's good he was held accountable
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