British Banker Fred Goodwin Stripped Of Knighthood

Sir Fred Goodwin, the former disgraced head of the Royal Bank of Scotland is now just Fred Goodwin after the Royal Family this week stripped him of his former knighthood.

The British government has largely blamed Goodwin for triggering the worst recession in the UK since WWII.

Goodwin received his knighthood in 2004 for “services to banking.”

Just 7 years later taxpayers were forced to shell out $70 billion to save the Royal Bank of Scotland which is now 83% government owned.

Refusing to give up his $26 million pension pot Goodwin walked away from the banking disaster without so much as a simple apology for his bumbling management of the company.

In the past only criminals, disctators and spies have had their knighthood revoked. In the meantime regulators are now calling for various other banks and investment brokers to also lose their knighthood.

With Goodwin out of the picture his successor who is also under pressure to turn around the company announced this week that he would waive his $1.5 million bonus payment.

I’m personally surprised more actions have not been taken against him by the British government. Do you think Goodwin deserved to have his knighthood taken away and should more actions be taken against him?