From the FINANCIAL TIMES:
Sir Fred Goodwin, the former boss of Royal Bank of Scotland, is being stripped of his knighthood, in the latest political concession to public anger in Britain over the perceived arrogance of some senior bankers…
Sir Frederick Anderson Goodwin – or plain Mr Goodwin as he becomes – joins Cambridge spy Anthony Blunt, Romania’s former dictator Nicolae Ceausescu and Zimbabwe’s Robert Mugabe in losing his title, after it was decided he had “brought the honours system into disrepute”…
There was little sympathy for him at Westminster but Alistair Darling, former Labour chancellor, said he felt “uneasy” at the way the former RBS chief executive had been singled out. “There were plenty of other knights of the realm around the bank boardroom,” Mr Darling said. “We appear to be entering new ground. Whatever else Fred Goodwin did, he was not convicted of anything. If we are going to get into a situation where people lose the honours . . . we need to establish the ground rules.”
Click here to read the full article.
EDITOR: There is something to be said for a system that honors achievement and sacrifice.
