Lord Myners: wilfully bad or incompetent?

March 17, 2009 6:09 PM

The latest news about Sir Fred Goodwin's pension is jaw-dropping. Not only has he apparently been allowed a multi-million pound lump sum, but Lord Myners has confessed that when he was told in advance that Goodwin's pension would be "enormous", he simply did not bother to find out the details.


This is either wilfully bad or incompetent - either way, Myners has let taxpayers down severely. As for which it is, let's put it this way: Myners is denying that he was wilfully bad...


As an aside, it is interesting to note that having poured hundreds of billions into the banks, nationalised them and pledged to manage them better and use them as tools to help the economy, at the first sign of criticism over mismanagement the Government are now claiming that Goodwin's deal is "a matter for the Board of RBS, not the Government." They can't have it both ways.

The latest news about Sir Fred Goodwin's pension is jaw-dropping. Not only has he apparently been allowed a multi-million pound lump sum, but Lord Myners has confessed that when he was told in advance that Goodwin's pension would be "enormous", he simply did not bother to find out the details.


This is either wilfully bad or incompetent - either way, Myners has let taxpayers down severely. As for which it is, let's put it this way: Myners is denying that he was wilfully bad...


As an aside, it is interesting to note that having poured hundreds of billions into the banks, nationalised them and pledged to manage them better and use them as tools to help the economy, at the first sign of criticism over mismanagement the Government are now claiming that Goodwin's deal is "a matter for the Board of RBS, not the Government." They can't have it both ways.

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