Lord Myners was appointed to oversee the British Government’s bank bailout. The following clips from news stories here in the UK and around the world expose the greed of the bankers and the incompetence of the Government.
Lord Myners in fancy dress
This post focuses on the Royal Bank Of Scotland farce in particular and the players involved in what should only be described as a fraud against the British taxpayer.
Ananova.com had this to say:
Minister Branded ‘Pathetic’ In RBS Rescue
A leading member of the influential Treasury Select Committee has labelled City minister Lord Myners “pathetic”.
Speaking on Jeff Randall Live Conservative MP Michael Fallon said: “Myners’ job was to defend the tax payers’ interests and prevent a reward for failure and his attempt this morning was pathetic.”
The comments come after Lord Myners was quizzed over his part in the Government’s rescue of Royal Bank of Scotland.
A report on the BBC web site:
Row over Sir Fred pension advance
There is uncertainty about whether Sir Fred Goodwin will pay back a £2.7m advance on his £16.9m pension pot.
Earlier on Tuesday, Treasury Minister Lord Myners told MPs that Sir Fred had pocketed that amount.
The Australian says:
Investors, taxpayers mugged as RBS doubled Sir Fred’s pension
PAUL Myners, minister for the City of London, has accused the former board of Royal Bank of Scotland of devising an elaborate ruse to deceive him about the size of Fred Goodwin’s pension.
Sir Fred Goodwin, ex CEO of The Royal Bank Of Scotland
Royal pension: Sir Fred’s pension was discreetly doubled at Royal Bank of Scotland, which also offered to pay their CEO’s tax bill.
In meetings last October with Tom McKillop and Bob Scott – the bank’s former chairman and its head of its remuneration committee – when it was agreed that Sir Fred would leave RBS, neither told Lord Myners that they planned to double Sir Fred’s pension pot to £16.9 million ($36.1 million).
Lord Myners, giving evidence to the Commons Treasury Select Committee, admitted that Mr Scott had warned him that Sir Fred’s pension would be “enormous”.
The Times Online report:
‘Use terrorism law on Goodwin’
MSPs hope legislation used to combat terrorists could help retrieve the disgraced ex-banker’s £30m pension
MSPs have launched a campaign to use anti-terrorism laws to freeze Sir Fred Goodwin’s assets, as a poll showed that most Scots want the disgraced former banker stripped of his £700,000 annual pension.
Politicians believe legislation would allow ministers to seize the luxury Edinburgh home and classic car collection of the former Royal Bank of Scotland (RBS) chief executive.
They claim it would give the government more leverage in its efforts to persuade Goodwin to forego some of his pension for presiding over the downfall of the bank which posted a loss of £24 billion for 2008 and had to be bailed out by the state.
DuckShoot Alarm: As much as I detest these fraudsters, using antiterrorism laws against them would set a dangerous precedent. We have criminal courts and civil courts that should be able to prevent this theft.
The Australian got it right we’ve been mugged and I think the Government is up to its neck in it. What do you think?
Definitions:
MSP – Member of the Scottish Parliament
Mp – Member of the British Parliament
RBS – Royal Bank of Scotland
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