Has the government made a scapegoat of Sir Fred Goodwin and his £16 million pension pot?

Yes - the government is to blame because it approved his pension
30% (31 votes)
Yes - but Goodwin should still be forced to surrender his pension pot
35% (37 votes)
No - Goodwin is profiting at the expense of taxpayers and their money
33% (35 votes)
No - I don't have a problem with Goodwin receiving a pension of this size
2% (2 votes)
Total votes: 105

Your Comments

I can imagine nobody in government at the time envisaged this "golden handshake" ever becoming so public as they were knee deep in crocodiles trying to salvage the bank and keen to get the PM's mate out of the way. Regardless of this it is an obscene amount for anybody, made very much worse by the fact that Sir Fred was probably responsible for driving the bank off the cliff and taking many of us with him - shame he has a parachute unlike the rest of us!

If this was part of his employment or severance package he should be allowed to keep it.

This is altogether a different issue to folks getting paid bonuses for non-performance.

I don't know about being able to or asked to resign, the man is incompetant and should have been sacked out of hand, I.E. NO PENSION AT ALL.

do we even believe that the government did endorse this pension? I don't think that he should be forced to give it back necessarily but if he has got a decent bone in his body and any sort of moral standing then he should donate to charity!

i won't watch this space!!!!

The comments on this issue will get stronger and stronger for as we reach 3 million unemployed, which will be by the end of April09, and here I am talking about the TRUE figure not a government invented one we shall be crying for the blood of FRED. Will he worry 'you bet he won't' - would you with that much money. TAKE HIS KNIGHTHOOD AWAY. He should have been shown a P45 a long time ago

Whilst I think nearly £700K pa is obscenely high in the context of the losses RBS has subsequently made, I also think 1) he almost certainly won't work again & 2) well done to him for negotiating such a fantastic deal. The people really to blame are those that approved the deal. He should have been sacked & made to sue for wrongful dismissal.

Sir Fred should match the percentage given up by the real culprit..., whether that be the former Chancellor or the current Prime Minister.
Or his other critic, Mandleson, twice embarrased into quitting, but not to shy to get his nose back into the Euro trough until it had all blown over and he could use the old boy network to get a £250/day tax free job for life just for turning up and signing in.

Dirty politics again. Look behind these headlines to see what was buried elsewhere. Gordon Brown sub-letting constituancy office for payment, when already paid for by the taxpayer?
The B.O.E. condemnation of the government handling of the crisis?

Well done Fred. Don`t hand back the money!

Perhaps the time is right for a review of MP`s golden pensions?

He should hand back the portion that was "enhanced" (£7 million?)but keep the reduced portion which is available for retirees at age 50 which was part of his contract.

Brown's behaviour beggars belief. A good leader would have sorted out all the legal advice by now not just be talking about it right now - he is responding to media attention and diverting flak. He would not survive as a leader in industry.

Of course the pension is immoral! But how Brown can say all the UK's problems started in USA and yet at the same time put 100% blame on the UK bankers for the same UK mess beats me! He continues to use diversionary tactics - the biggest confidence booster for the UK would be for him and his very weak cabinet to resign and for him to forego half his pension.

If I was being villified in the press and hounded like he was I'd refuse to give it up too!

Yes, the government have seized the opportunity to scapegoat but that doesn't excuse Goodwins cavalier approach to ruining one of the most stable and reputable financial institutions in this country.

It's the same old problem - Northern Rock execs got away with "murder"; most of the Halifax execs have too; how many more brats can tax payers support? None of these people did their jobs and were neglegent.

By the way, that includes CEO and CFO of UK Plc!

Nobody should be paid that size pension. It would still be obscene IF he had been successful. Brown and his muppets have let the tax payers down yet again.

So many of them have their noses in the trough, be they Euro MPs/administrators, UK MPs/administrators or those appointed to oversee events such as the 2012 Olympics.  They aren't interested in benefiting their fellow human beings, just fleecing them to line their own pockets to a breathtaking degree.  No matter how immoral their behaviour, if criticised they just bleat on about having done nothing illegal, which is often shorthand for "Everyone else is doing it, so why not me?"

The people who aghreed to the pension should be made to pay for it, including the CEO and CFO of UK plc. Might make others take more care with their work.

Our government are the evil masters of misdirection.

They have failed us a lot worse than any banker did. Brown actively encouraged the banks to take risks:

Gordon Brown
Speech to the CBI, 5 June 2006

“Last year we set out radical proposals for changing the way we regulate: minimising the administrative burdens of regulation; and ensuring that the realities of regulation, as you experience them on the ground, are transformed -- by moving away from the 'old' blanket approach, of 100 per cent form-filling and 100 per cent inspection that is inefficient and wasteful of your time, to a new approach based on RISK…

And I believe, too, we should consider how we can continue to extend our RISK-based approach, applying the concept of RISK not just to the enforcement of regulation, but also to the design and indeed to the DECISION ON WHETHER TO REGULATE AT ALL… ”

The speech above and others [Mansion House speeches] prove it.
And all I have seen on the mainstream media, BBC etc since then is Brown appearing to be blame the banks, when he was behind the way that they acted 110%.

Snatch back Browns pension. [Brown stole £100 Billion of taxpayers pensions in 1997] [QE will also have the effect of destroying many many company pensions schemes, and has no chance of working] Printing money is just stealing it out of our pockets, by devaluation.

There is something drastically wrong with our society. There is no accountability at all for those in power. At the very worst, after utterly destroying peoples lives and livelihood, the worst they have to do is face is a public apology and then a fat retirement package.

The Government are political posturing because the public are so against
Sir Fred's pension pot. It takes the pressure from them!
His pension/pension pot is obscene however nothing was said whilst it was being built-up during his service with the Bank it was there for all
to see in the Accounts. However as he took the Bank to the 5th biggest in the world the politicians/shareholders/public were noticeable by their
His package reflected the importance of his position and decision making:
serious mistakes have cost everyone including Sir Fred who has lost an extremely lucrative position.

When this Government sorts out the Expence fiasco used by MPs - second homes/family pay then and only then can they comment with authority on Sir Fred's package!!