We Should Leave Fred Goodwin Alone With His Pain
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But you can, of course, blame him for the disaster that befell his bank. And rightly so, as he was in charge of an institution that had to go cap-in-hand for a bailout from the UK government, and is now 70% owned by the UK taxpayer.
And then there was all that stuff about his $1.1m-a-year pension (he has since given some of it back, and has agreed to try and make do on $16,000-a-week). The pension, and the fact that he made tens of millions during his tenure at Royal Bank of Scotland, made Goodwin briefly Public Enemy No 1 earlier this year, a symbol for everything that represented the excesses of a financial system that is regarded by many as the main cause for the current global downturn.
Goodwin's return, of course, will re-ignite the this furore. But, we should all move on, and leave the former banker alone with his pain. Because, despite all the money and the assets this man has, he will not be in a good place. This once pillar of the banking community is now totally discredited. Everything he ever worked for has been destroyed. His legacy now is one of high-profile failure. And, believe me, for a man like Goodwin, that's punishment enough.
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