Hysteria over Sir Fred’s pension

Today our hysterical political class has taken to threatening Sir Fred Goodwin with legislation unless he waives his pension. 

Vince Cable, who now appears to speak for the nation, claimed that “nobody disputes that Sir Fred should be deprived of his pension.” This is a severe case of Liberal ‘me-too-ing’ and pandering to what it believes to be popular opinion. Vince Cables’ recent stature on economic affairs has evidentally gone to his head.

However, even this headline-grabbing junky stops short of Harriet Harmon’s desperate attempt to prop up her lame government with the threat of legislation. She added, “it might be enforceable in a court of law, this contract, but it is not enforceable in the court of public opinion and that is where the government steps in.”

What a disgraceful, feeble comment. I’m sorry, but since when has the government ‘stepped in’ to supersede decisions made by private companies on the pension arrangements of employees?

Meanwhile the former Deputy Prime Minister John Prescott revealed his position: “I believe basically take it off him and let him sue in the courts.” These are bully-boy tactics from a typical socialist thug designed to deflect from the major policy errors of his government. And I’m glad he said it, as it does no credit to his case. 

Slightly aside. This is indicative of why this Government is ten points behind in the opinion polls and almost certain to lose its majority when it finally calls an election. This is knee-jerk politics at its best, or worst, depending on how you look at it.

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8 thoughts on “Hysteria over Sir Fred’s pension

  1. Have you heard of the facebook campaign to strip Prescott of his pension? A clever way of making the point, I feel.

  2. what how dare you lot?? Condone what is not only unacceptable but unbecoming??? Isnt this the sort of statement that makes them brand the conservatives as out of touch with the people.
    Sir Fred with all due respect DOESNOT warrant such a hefty sum if he led the bank to the docks and some staff got laid off. Wheres the human side of him for pete sake? Hes earning the top 25% slalry in the country for gross incompetence and negligence. PEOPLE GOT LAID OFF And he walks away with such a sum. Dont get me wrong after such a distinguished career he does deserve a pension but not of this magnitude in these rather turbulent times
    Do not speak ill of Vince Cable, Im not a fan but where was the conservative party when he was blowing the whistle on our borrowing binge years ago?

  3. Better Tomorrow,

    Fred Goodwin does, as you concede, have a distinguished career.

    I, for my part, concede that he may have made judgements that served RBS badly in the current economic climate.

    However, I’m afraid that no-one is perfect. As I have said in a previous thread, nobody goes through their career without making mistakes. Fred Goodwin, like the rest of us, is fallible.

    I understand perfectly that ‘PEOPLE GOT LAID OFF’. However, every employee should bare in mind, wherever they work, that they may get laid off. Companies go bankrupt and have to make people redundant all the time, it is day-to-day market activity.

    Moreover, I repeat my first argument that Sir Goodwin’s pension arrangements were made by a private enterprise before the government invested in it. I’m afraid these arrangements should be honored.

    The alternative is John Prescott’s prescription which is to simply take the money. What basis is that for societyt?

  4. Also, you may note that I concede Vince Cable’s stature on economic affairs. However, I have issues when he says “nobody disputes that Sir Fred should be deprived of his pension”, mainly because the pension is legal and I for one do dispute that he should be deprived of it.

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