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Categories:Politics,Regulation

Cameron: 'Goodwin could be stripped of his title'

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Former Royal Bank of Scotland chief executive Sir Fred Goodwin (pictured) could be stripped of his knighthood, Prime Minister David Cameron has said.

Cameron said the knighthood awarded to Goodwin will be referred to the honours forfeiture committee, where it will be decided whether the strip him of the title or not.

According to reports, the Prime Minister said the committee, which has the power to strip people of their honours, would take into account the FSA’s recent report into the failure of RBS, which he presided over. RBS had to be rescued by the Government in 2008 after making a £24.1bn loss.

In December, business secretary Vince Cable suggested Goodwin may face criminal charges after the report revealed the bank’s directors broke UK accountancy laws.

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Readers' comments (12)

  • Do these UK accountancy laws cover government embelishment and mismanagement of public funds?

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  • There are a good few other people who ought to be stripped of certain things for their part in the near collapse of RBS. The words criminal and negligence spring readily to mind.

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  • Has Goodwin officially been struck off or censured by the FSA? If not, I don't think there's a case for forfeiture.

    As an alternative, maybe everyone - Money Marketing included, could simply stop using his title and justr refer to him as 'Mr Goodwin'. What's he going to do - sue?

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  • Has Goodwin officially been struck off or censured by the FSA? If not, I don't think there's a case for forfeiture.

    As an alternative, maybe everyone - Money Marketing included, could simply stop using his title and justr refer to him as 'Mr Goodwin'. What's he going to do - sue?

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  • No more "Sir Fred the Shred"?

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  • No doubt Cameron will strip Goodwin of his title and hand it over to sir Hector.

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  • @Lord Strummerville

    How do you like the sound of Mr Adair Turner?

    Gongs for failure, don't you just love the 'system'?

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  • The questions is...how did he get the knighthood in the first place?

    Ah yes, that'd be buy buying it through wining and dining politicians.

    The entire honours system has become a joke. It used to be an aspiration. Now it's more of an embarrassment.

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  • Still want to know why this guy is not facing criminal procedures - this is an absolute disgrace.

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  • Bugger the knighthood! Strip him of his ludicrous pension!

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