Best Job in the World?
 

When you are asked to stand down...or so I believe, for the failure to manage the Organisation you are in charge of should you or anyone else be given a handout of this magnitude?

BBC NEWS | Politics | Sir Fred 'won't give up pension'

Re: Best Job in the World?
 

People like Sir Fred are paid big bucks by big organisations because under a high profile and vastly experienced figurehead, a company can thrive, increase profits and make large sums of money for their shareholders. Success is and should be rewarded in any highly profitable business.
When the opposite is true and the company loses obscene amounts of money, there cannot be huge payouts to bosses and investors because there is no money left in the pot.

The government had to act to save the banks but to give the prize money to the 'weakest link', that is against the rules of both business and something the powers that be lack these days, common sense.

Re: Best Job in the World?
 

HMGs excuse for not stopping this when the bail out occurred was that this pension was in the words of Gov minister Timms that it was set in tablets of stone and that there was nothing they could do. Now some months down the line it appears that it was nothing of the sort, to me due diligence wasn't used when negotiating this bail out, how can people like Simpson expect these obscene payments when, but for public money there wouldn't have been a bank to pay pensions worth two pence never mind £700,000

Re: Best Job in the World?
 

Are these pensions negotiated in such a cast iron way that the recipient gets the money whatever happens?
How stupid.
For that sort of a deal, they could have got someone who understood banks and financial institutions rather than just a greedy no-hoper. It will always be said that it is not just the top boss who caused the problem. I say the buck stops fairly with the top man and if the istitution fails it is his fault.

Taking a wider view, where has all the money gone, toxic debt? (is that a new phrase?).
So banks have leant all this money out and have no chance of getting a lot of it back. I reckon this has been going on for many years but they have only just realised that their pockets are empty.

Are they still trying to convince us that the top man knew nothing of these problems?

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This news only broke in the mainstream media yesterday morning. I have, however, heard a rumour that some people here on the Accy Web knew of this story as early as last sunday. Anyone here wish to confirm this?:)

Re: Best Job in the World?
 

It feels like an “old boys pact ” is at work here.

Instead of being allowed to step down Fred whats his name should have been sacked for incompetence and that would probably have sorted out the question of pension rights. But it has been reported that Fred was a personal friend of Brown and other cabinet members so a sacking would be out of the question.

We call Mugabe for being corrupt but there is nothing more corrupt than the current mob in office and the fat cats.

Re: Best Job in the World?
 

My crystal ball tells me a lot but I don't always let on - don't want to cause panic do we?;)

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I heard that the rumour was a bit more specific than your crystal ball.

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You can't possibly compare Britain to Zimbabwe. After all, Zimbabwe is being run by a meglomaniac who refuses to ever admit to being wrong and who wasn't actually elected to run the country, the currency is becoming increasingly worthless, unemployment is rising and the economy is on the rocks.

Oh, hang on a minute....;)

Re: Best Job in the World?
 

Are you sure thats Zimbabwe your talking about Wynonie:rolleyes:

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No, he's getting confused. It's Hyndburn Borough Council he's referring to.:D:D:D

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I was being satirical!

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It is a trait learned from politicians, looking out for each other, and lining each others pockets. (the fat cats and shareholders that is).

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wether anyone thinks it is fair or not that he gets this pension its no one elses buisness but his own simply because it is what he was offered by contract and if the govenment was stupid enough to give it him or not spot it when they helped out then more fool them

no matter how much gordon brown spits his dummy out or kisses up to the public by taking a stance that he thinks will win him the publics approval and makes us like him any more the fact is the guy wether you agree or not is entitled to what was in his contract


peoples arguments shoudlnt be aimed at Sir Fred for taking a pension out of a bank funded by public money but arguments should be aimed at the moron that gave him the pension but sadly every MP available with gordon brown been the most outspoken is hogging every soundbite with the press and every minuite of airtime available to condem a guy for taking money which they quite freely gave him


for the life of me i cant figure out how labour have let gordon brown remain where he is so long, our Gregg Pope would make a better job of been the labour party leader than gordon brown does


hey im not a conservitive voter but it is sad that in voting for a damn good MP (mr pope) i am helping to keep gordon brown in power

ps:

i aint a wealth guy sticking up for another wealthy guy , ask anyone who knows me im p*ss poor as the saying goes but it irks me to see the govenment push all teh blame onto Sir Fred just to deflect blame away from themselves where blame lies

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good post accyman,pity it wont let me give ya karma.

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Gordon Brown does not care if the bank have put £16 million pounds into his pension pot. All Labour are doing is trying to focus the public and newspapers on anything except the billions Labour have thrown away on the banks. By the current public response to the whole pension thing it is working nicely. Well done Gordon, I believe you have known about this pension all along and have saved it to deflect the media from your screw up nicely.

I don't really agree with privatisation. I think Thatcher got it wrong, she should have replaced the higher level of management within the public sector and somehow forced a change in the way the old public utilities worked. Maybe she thought it would be impossible to streamline them and make them operate like private businesses while still leaving them publicly owned.

What Labour have done with the banks is worse. They have in effect nationalised the bad business of the banks while leaving the money making parts still private. They should have nationalised the whole of the banks in question. That way OUR Country could have made some of OUR money back. I doubt we will ever see even a small percentage of our money invested in the banks returned to the national coffers.

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All this crap that Brown is coming out with about Goodwin, its just like Neil said he's playing to the gallery, but the fact of the matter is, his own grubby little fingerprints are all over it. The bloke he put in charge, Lord Myners is some one who will never have to answer to the electorate he's one of Labours cronies in the upper house, who incidentally was back by Lord Maddy the biggest chiseler of the lot. Gordon is trying to tell use he new nothing about Goodwins pension, it seems that when anything goes belly up nobody has ever told Gorden, well he's the big white chief and the buck stops on his desk. It might be an Idea if once, just once he followed in Obama's footsteps and admit he and his Government have cocked up big time, if I had breathe I wouldn't be holding it any time soon. And whilst I'm on about clawing back pensions, if he want Goodwin to forgo his £13,000 a week for life, indexed linked of course, maybe Gordon may just consider giving back all those Billions he filched out of private pensions to fund his tax and spend fiasco, but pigs will fly first

Re: Best Job in the World?
 

Well the Gas and Electric companies have been sold off to France and Germany,The gold reserves sold for a fraction of their value.
I'm just waiting for the car-boot sale at Windsor,could pick up a bargain when It's the turn of the Crown Jewels.:D:D

Re: Best Job in the World?
 

when prince philip dies im glad to see his testicles will go to a good home lol

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Sir Fred'll have to give up his pension now...Harriet Harman says so! And how are the government going to make him do it? Well, she's not really sure, but they're going to "step in" because it's unacceptable "in the court of public opinion" (whatever that may be). Strange really, how a minister in the same government signed the deal off only a few months ago.

Pathetic. :mad:

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reckon its just pie-in-the-sky, what i'm waiting for is some legislation to prevent cock-ups like this re-occuring, this ere "court of public opinion" in cashys house wants it, getting it may well be another thread later, if it ever happens, am expecting the "Opposition" who seem to be in favour at the moment, to object if any is proposed.:rolleyes:

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if gordon brown brings in legislation to ge this pension back could employers then use teh same law he creates to screw everyone out of tehir pensions?

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There is a good chance it could happen. As there is a feeling of disgust most wont mind until its to late. Bet the polititions would be exempt though. ;)

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thats not the kind of legislation, its to stop this ever occuring again, this sir useless minger has virtually got away with it, so can't see it affecting ordinary pensions, oiks cannot cock up big time n cost the country billions.

Re: Best Job in the World?
 

Spot on accyman, £5 billion a year half inched out of peoples pensions every year, plus the fact that people who have been saving for their old age are get little or no return on their savings, so they're being screwed twice:(