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Forget Fred let us get back to saving the UK economy!

Even today the financial press is full of comment and opinion about Sir Fred Goodwin and his pension pot not to mention that taken by his fellow banker at HBOS. However, surely it is time the government stopped the personal attacks on former leading lights of the UK banking sector and got back to the more important business of saving the UK economy?

The longer the personal attacks from leading MPs continue the more suspicious UK public will become of the underlying reasons for this "spin". Leaks, rumours and untruths have apparently been walking out the door of the UK Treasury for some time with suggestions that issues such as Sir Fred Goodwin's pension have been used to over shadow the ongoing collapse of the UK banking sector. There is no doubt that the UK public are dismayed at the banking pension pot figures being mentioned but more anger could soon be directed at the UK government. It appears that the body appointed by the government to look after taxpayers investments actually signed off the pension arrangements in question.

There are suggestions that a number of leading UK banks are set to approach the authorities about a potential taxpayer investment in the hope of raising sufficient funds to both improve their balance sheets and overcome short-term write-offs and losses.

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