Disgusterous

Author Topic: Fred the Shred  (Read 2248 times)

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Offline Pastis

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Fred the Shred
« on: February 27, 2009, 09:07:40 PM »
So, what's going to happen?  Place your bets, eh?

The man on the Clapham omnibus would clearly have him hung, drawn, quartered and stripped of every cent, but can they do it?  £640K a year, for life?  In retirement? eeek:  Personally I'd be over the moon at a tenth of that for working!

Madness...  noooo:
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Offline Miss Demeanour

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Re: Fred the Shred
« Reply #1 on: February 27, 2009, 09:27:48 PM »

He will not repent - in his eyes he deserves this obscene amount of money  noooo:

The Govt are too spineless to take any action against him as they will make themselves look complete idiots ( although there may be a resignation or two to save face )

Any time soon he will move abroad - away from the media spotlight, still collect his pension, live in the sun and have many sleepless nights about the injustice of it all  - not  evil:
Skubber

Offline Pirate

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Re: Fred the Shred
« Reply #2 on: February 27, 2009, 10:00:36 PM »

Any time soon he will move abroad - away from the media spotlight, still collect his pension, live in the sun and have many sleepless nights about the injustice of it all  - not  evil:

Does that remind you of anyone. Moving abroad, living in the sun, like?   barman: :

Offline Miss Demeanour

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Re: Fred the Shred
« Reply #3 on: February 27, 2009, 10:09:27 PM »
 rubschin:

I like your thinking ...wonder if it is the new crook's paradise ????
Skubber

Offline Barman

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Re: Fred the Shred
« Reply #4 on: February 28, 2009, 09:08:29 AM »
 evil:

Anyhooo....

I don't think he will voluntarily give any of it back and I don't see how Gorgon can take it from him...  noooo:

I think it is an obscene amount but then if it is legally his why should Gorgon take it from him?   Shrugs:
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Offline Miss Creant Commander of the picklement and baking BAb(Hons)

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Re: Fred the Shred
« Reply #5 on: February 28, 2009, 10:03:46 AM »
In fairness he did relinquish one years salary by way of saying 'sorry about making so many cock ups' bless him he can't be all bad.

Has anyone in government actually done the sums on this £640k x 20 - 1 years salary. cussing: censored:
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Offline Snoopy

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Re: Fred the Shred
« Reply #6 on: February 28, 2009, 11:51:15 AM »
Proves he was a good deal maker though ~ even if the last few went wrong.


Do we really begrudge him this pension or are we simply jealous?
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Offline Miss Creant Commander of the picklement and baking BAb(Hons)

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Re: Fred the Shred
« Reply #7 on: February 28, 2009, 12:10:19 PM »
Proves he was a good deal maker though ~ even if the last few went wrong.


Do we really begrudge him this pension or are we simply jealous?

IMHO there may, just may be a degree of envy I am sure that we would all like to retire tomorrow with that sort of money to comfort us in our old age. I believe that a proportion of this pension is from previous positions that he has held and one must suppose that he did well during that time, either that or learnt some funny handshakes, do I begrudge him that part of his pension, well, no but surely he should not be rewarded for bringing the bank to it's knees.

Having said that, do I blame him for his refusal, nope, if what he claims is true, that this pension was approved at cabinet level.  Will heads roll?  Nope, there will be some hand wringing, dear old Gordon has asked again today for his ball back  the money to be returned.  Give it a few days and this will have dissapeared into the mists of time along with Fred and some other financial balls up will be making the headlines. Banghead



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Offline The Moan Ranger

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Re: Fred the Shred
« Reply #8 on: February 28, 2009, 12:55:18 PM »
The Daily Mash:-

BROWN REFUSES TO HAND BACK PENSION

GORDON Brown last night dismissed calls to surrender his £123,000 a year pension when he is forced to stop being prime minister next June.

Mr Brown was defiant in the face of City outrage despite the UK government's annual operating loss of £100bn, rising to £1.5 trillion when the write-down of its banking assets is taken into account.

The prime minister said: "I've been building up this pension since I became an MP, it's all completely legal and now you want to take it away because I've been catastrophically bad at my job and you're looking for a scapegoat. What gives?"

He added: "Yes I've been in charge of financial regulation for 12 years, yes I encouraged the housing bubble, and yes I pissed billions up the wall giving pointless jobs to Labour voters, but I fail to see what any of this has to do with me being incredibly well off."

Brown's £3m pension pot is expected to cast the spotlight on the extravagant retirement packages of other failed politicians including Alistair Darling's inexplicable £1.7m and the £1.5m awarded to John Prescott for being a national scandal for 10 years.

Meanwhile Margaret Beckett has a fund worth £1.7m, something called 'Hilary Armstrong' has £1.2m and Tessa Jowell has £1m even though no-one has the faintest idea what any of them actually did.

Critics insist Mr Brown has a moral duty to hand back his pension fund as he will inevitably receive a multi-million pound advance for two volumes of eye-gougingly tedious memoirs which will end up in the bargain bucket at WH Smith within a fortnight.

Martin Bishop, head of pension rows at the Institute for Studies, said: "It's a fascinating dynamic. The politicians blame the bankers, the bankers blame the politicians, and the ordinary taxpayer is down on all fours with a confused look on his face, being f@cked at both ends."

Offline Barman

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Re: Fred the Shred
« Reply #9 on: February 28, 2009, 12:58:31 PM »
 lol: lol: lol: lol:
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Offline Miss Creant Commander of the picklement and baking BAb(Hons)

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Re: Fred the Shred
« Reply #10 on: March 01, 2009, 08:50:23 AM »
It just gets better and better....

http://www.timesonline.co.uk/tol/news/uk/article5822235.ece

THE full market value of Sir Fred Goodwin’s controversial £693,000-a-year pension has been calculated by experts at £32.7m - twice as much as his former bank has admitted.

Standard Life, the life insurer, worked out the cost of buying an annuity to deliver the former RBS boss’s retirement benefits. The bank last week valued his pension pot at £16.6m.

John Lawson, head of pensions policy at Standard Life, said: “Companies with final salary schemes often underplay the true cost of these liabilities by being overoptimistic about investment returns and life expectancy.”


The disclosure comes as the government ratchets up the pressure on the former RBS chief executive to forgo some of his pension. Lawyers acting for the Treasury are set to investigate his expenses, use of a company jet and visits to sporting events to see if shareholders’ money was abused. Alistair Darling, the chancellor, has also asked Sir Philip Hampton, the new RBS chairman, to investigate the business practices of the previous board.
I have always thought that the worst thing about drowning was having to call 'help!' You must look such a fool. It's put me against drowning.
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Offline Miss Demeanour

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Re: Fred the Shred
« Reply #11 on: March 01, 2009, 08:53:02 AM »
The disclosure comes as the government ratchets up the pressure on the former RBS chief executive to forgo some of his pension. .

By that I take it they mean the Government has said "Please"    noooo:
Skubber

Offline Nick

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Re: Fred the Shred
« Reply #12 on: March 01, 2009, 11:07:00 AM »
The argument of the gummant seems to be that while he is legally entitled to the pension it is morally not on. Like Jacqui's expenses then?
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Offline Barman

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Re: Fred the Shred
« Reply #13 on: March 01, 2009, 11:12:06 AM »
The argument of the gummant seems to be that while he is legally entitled to the pension it is morally not on. Like Jacqui's expenses then?
Precisely... hypocritical bastards!  cussing:
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Offline Pastis

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Re: Fred the Shred
« Reply #14 on: March 01, 2009, 08:17:13 PM »
I was talking to someone yesterday about this. He said, to paraphrase, it's in his contract ~ tough shite! Why didn't the shareholders or board of the bank flag such excesses at the time? Why? Because they were on such a roll with the bonuses, dividends and remunerations that the last thing they wanted to do was rock the boat  ::)

There were other examples he cited, equally if not more excessive but it makes me  sick2:  to even think about them.
Like the Buddhist said to the hot dog vendor...
"Make me one with everything"