Tuesday, March 31, 2009

Myners knew about Goodwin's pension

From today's FT.....

Lord Myners, City minister, was told of Sir Fred Goodwin’s “enormous” pension rights and made no effort to stop the ex-chief executive of Royal Bank of Scotland receiving them, the former chairman of the rescued bank said on Tuesday.

Sir Tom McKillop, in a letter to MPs, denied claims by Lord Myners that RBS had engaged in an “elaborate ruse” to double Sir Fred’s pension to £703,000 a year, and accused him of making “unfair and unjustified” allegations.

Who is going to take the long walk first; Jacqui Smith or Lord Myners? It is a tough question, but I think the answer will come to us very quickly.


  1. Smith, gone in 24 hours

  2. Of course Myners knew about it. He and Goodwin go to each other's dinner parties. Or mutual friends' dinner parties. Or friends of friends' dinner parties.

    'I say Myners, Goodwin got out with a good deal, didn't he?'

    'Shhh.... no-one's supposed to know'.

  3. Out the Faerie Queene of KirkcaldyMarch 31, 2009 at 2:05 PM

    As the FT pointed out, it was in the RBS Annual Report.


  4. The PM talked about morality today. Well, the British because of the last ten years, are not to be trusted as people to do business with I am afraid. And I am advising my clients not to do business with the City until it shows tangible clean-up: that means no more wide boys in pin stripe suits and Jamie Oliver accents (the guys are serious wankers), no more floppy haired public school boys with a bad line in BS, no more red-faced blow hards, just people who tell the truth and actually do something worthwhile.

  5. Less than 40% of people working in the city are british, by my estimation...

  6. Anon @22:37 - you forgot to mention no more loans, no more FX, no more equity or debt raising. Small is beautiful.

    Anon @23:07, that would be because less than 40% of British can count and read and write.

  7. Its come to something when I read about this whole debacle and realise that I don't actually beleive anything either party says.

    There was a time when it was possible to take a certain viewpoint, maybe I didn't quite like one of the parties but I could beleive that they were to some extent truthful. Nowadays whenever I see bankers and politicians squabbling I want both of them kicked off the white cliffs at Dover.

    What part of the playground can I hang around in 'cause I'm bored of these guys now.