Unfortunate And Unacceptable

The Guardian and BBC have posted the full text of Lord Myners’ letter replying to Sir Fred Goodwin’s decision to cling desperately to his 30 pieces of silver.

Lord Myners’ says that:

…it is true that I expressed concerns over your 12-month notice period and certain share-related awards. I welcomed your decision then to waive both these amounts.

In light of the size of the pension he is now receiving, Sir Fred’s decision to forgo his 12 months notice and those “share-related awards” does not look quite so magnanimous. I’m sure anyone else who was that greedy and lacking in conscience would happily surrender a year’s salary and some bonuses for a pension like that.



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