Sunday, 1 March 2009

Prescott is Right: Don't Award Failure

John Prescott has asked:

"how the hell the former RBS Chief Executive Sir Fred 'The Shred' Goodwin can claim without a guilty conscience a £650,000 annual pension a year from the age of 50.

"His greed and reckless nature got us into this mess and necessitated us bailing out the bank to the tune of £20 billion to try and keep people in their homes and
jobs. "

He ran a survey which asked amongst other things:

"Should RBS rip up his contract and take the risk of legal action."

Well lets look the record of an even bigger pension holder £1.5million all of that publicly funded. Who has been responsible as a senior participant in the running up of a £2.2 trillion debt. Part of that comes from an illegal take over of another's assets, liberties and well being, on false claims which were retrospectively agreed by the regulator of such things. Part of that was from failure to set stern enough regulations in place that would have seen Sir Fred unable to stretch the bank's risk to the degree he did.

So for costing the nation £1bn a year and 179 lives. Supporting a run up of the national debt, which not includes covering toxic debt from the banks his party could have regulated better which exceeds GDP. In his own words, how an earth can John Prescott claim without a guilty conscience such a pension?

Join the LDV cause on Facebook to Shred Prezza's Pension he clearly has a thing about people not being rewarded for failure, so we should look at clawing back his pension then.

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