We must claw back Fred the shred’s pension

From LabourList

It is outrageous that Sir Fred Goodwin is going to draw a pension of £650,000 a year (at the age of 50). He contributed to the disastrous performance of RBS, which saw it post record losses today of £24.1 billion.

The news of Sir Fred’s huge deal begs a simple question. Without the taxpayers’ billions, RBS would have collapsed. How much would Sir Fred’s pension have been worth then?

John Prescott is also asking this question over on GoFourth. and has started another one of his fantastic surveys. Make sure you take part.

LabourList are fed up of bankers who failed us all mouthing apologies but then acting as if nothing has happened. Sir Fred should voluntarily give up a vast chunk of his pension. If he chooses not to the government must put the best civil servants and lawyers onto the case so that some of the money can be clawed back.