Sir Fred Goodwin comes to the rescue of the regulators
When the going gets tough it seems that another attack on Sir Fred Goodwin fits the bill of diverting attention away from the UK economy and the UK regulators. Yet again, we have seen unconfirmed reports that Sir Fred Goodwin "employed" somebody at the Royal Bank of Scotland head office to fill cash machines with banknotes which only he had signed. While this has grabbed much attention in the media with various headlines appearing, it is worth stating that even if this were the case, only two cash machines are maintained within the head office of the Royal Bank of Scotland.
Lord Myners, the government appointed City Minister released these fresh allegations in Parliament today as yet more attacks on Sir Fred Goodwin materialised. This is the same government minister who has been blamed by many for the massive pension fund offered, and accepted, by Sir Fred as he negotiated his departure from Royal Bank of Scotland. Quite why anybody should be interested in the fact, whether true or not, that Royal Bank of Scotland notes signed by Sir Fred Goodwin were used in head office cash machines is a mystery.
We are starting to see something of a trend in the media, with Sir Fred Goodwin attacks rolled out when the going gets tough for the regulators and the UK government. Where will it all end?
Share this..
Related stories
Rail fares rise three times faster than wages
18/08/2015 Rail fares have increased three times as faster than wages, according to research conducted by the Trade Union Congress (TUC). Over the past five years regulated rail fare prices have risen 25%, while average pay only rose by 9% in the same period. Rail unions are now campaigning for train lines to be again run by the public sector, which would stem the rise in prices. They believ...
Read MoreLloyds bank denies multimillion pound bonus for chief executive
Yesterday the financial press was full of stories regarding a potential multi-million pound bonus for Lloyds bank chief executive Eric Daniels. While the company has issued no guidance on a potential bonus package for Eric Daniels it has denied rumours of a potential £10 million windfall for the man himself. So what is going on? It is believed that the chief executive has a package which earns...
Read MoreUK manufacturing orders still under pressure
The CBI has today attempted to pour cold water on hopes that the UK economic turnaround is just around the corner. The CBI industrial survey into UK manufacturing orders shows that the balance of order books fell to -59 in July from -51 in June. There had been hopes of a partial recovery in July but these have been dashed in the short-term.
However, the export order survey was sligh...
Rain dampens Morrisons sales
A rainy couple of months depressed sales at W Morrisons, the grocery chain has admitted.Morrisons said its sales growth had slipped since its May AGM, when it reported increased pre-tax profit of £374 million for 2006/07 compared to £54 million in the previous 12 months.The supermarket blamed tougher comparisons against last year's figures, when it said the market was doing well from good weathe...
Read MorenPower completes tough week for UK energy companies
UK power giant nPower was this week been effectively forced to agree a £63 million refund to customers who were overcharged due to a technical error back in 2007. It is believed that the company failed to inform customers in the correct manner with regards to price increases which has led to the record compensation bill which equates to around £35 per person affected by the issue. This is jus...
Read More