Those That Live By The Shredder Die By The Shredder
It is often said that everything comes to him who waits. The partial lifting of the so-called banker’s, Fred Goodwin‘s super-injunction, shows that no matter how tight you jam the lid on a can of beans, eventually the pressure builds and it blows up in your face.
There are some choice headlines.
- Daily Mail – Sir Fred, adultery and the public interest.
- Independent – Goodwin’s affair at bank exposed after peer breaks gagging order
- Daily Mirror – No good in these gags
- The Sun – Fred the Bed
There’s a lot more.
The tone is set by this from the Daily Mail.
While RBS was undergoing the biggest collapse in British corporate history, he was busy carrying out an extra-marital affair with a senior colleague involved in the strategic direction of the bank.
Truly, there can be no doubting the public interest in disclosing Sir Fred’s conduct. The collapse of RBS, under his control, led to a £45billion bailout by taxpayers.
Thousands upon thousands lost their jobs and businesses in the financial devastation which followed.
If Fred had had an affair with a Page 3 bimbo, that wouldn’t have mattered so much to the bank and in the end UK taxpayers. The tabloids might have made us laugh as they did years ago with Ron Halpern, a long forgotten businessman in the 1960s or 1970s, but because he had an affair with a senior executive, it meant that his crazy policies were able to get through board and other meetings. I had problems years ago with a company, where I served on a technical committee that had a husband and wife on it. We all had to convince two people who slept together of the correct course of action. It was not easy and the company suffered.
Two people having a relationship in an organisation is rarely a good idea!
Fred Goodwin was knighted in the 2004 Queen’s Birthday Honours List for his services to banking. So at least we can’t blame that one totally on Prudence, as he wasn’t Prime Minister until four years later. It will be interesting to see in twenty or so years time, when the details of Sir Fred’s knighthood are released, what dicussions took place on his suitability for such an award.
If ever there was a case for a knighthood to be taken away, then Sir Fred is at the top of the list.
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