Prince Charles parts with 'Fred the Shred'
Monday 26 January 2009
His reputation has been devalued as savagely as the toxic debts on the books of the Royal Bank of Scotland and the humbling of Sir Fred "The Shred" Goodwin, the bank's former chief executive, continues.
Yesterday, another battalion of troubles arrived – he is to leave his post as chair of the Prince's Trust; the Lothian and Borders police has launched an inquiry into his handling of the RBS rights issue; and he will have to appear before the tough Treasury Select Committee of MPs.
Once one of the most fabulous figures in finance, garlanded with honorary degrees, a knighthood and millions of pounds in bonuses, this son of Paisley, turned master of the universe, had to resign as RBS chief executive in November, having watched the bank he did so much to build into one of the largest finance groups end up semi-nationalised. He has been voted "the world's worst banker" – from a crowded field.
Having shredded so many jobs in the banks he ran, his own employment prospects have now gone from riches to rags; he is to step aside as chairman of the Prince's Trust.
A princely source confided: "It is out of the question for a business figure charity to have as its figurehead and role model a man who's done so much economic damage."
Even his old friend Gordon Brown appears to have gone off him. Last week, the Prime Minister refused to say whether Sir Fred should lose his knighthood, as many suggest.
How did it come to this? The credit crunch is one answer; the ABN Amro takeover is another. As Scots recover from their Burns suppers, the poet's lines come to mind:
The best laid schemes o' Mice an' Men
Gang aft agley,
An' lea'e us nought but grief an' pain',
For promis'd joy!
Culinary experts in The Netherlands thought it was 'fresh' and 'tasty'
Of all the computers Apple has ever made there’s only one that Steve Jobs had to sell his car to finance
- 1 As an ex prostitute, I urge all the political parties to commit to the Sex Buyer Law
- 2 Nokia no more: Microsoft drops once-ubiquitous mobile name – in favour of its Lumia brand
- 3 Renee Zellweger on plastic surgery: 'I'm living a more fulfilling life and I'm thrilled that perhaps it shows'
- 4 Australian café owner sparks debate after saying 'No' to having unruly children on premises
- 5 Couple die within 28 hours of each other after being married for 73 years
Renee Zellweger on plastic surgery: 'I'm living a more fulfilling life and I'm thrilled that perhaps it shows'
Isis releases first video showing the stoning of woman accused of committing adultery as her father shouts 'don't call me Dad'
Banksy not arrested: Internet duped by fake report claiming artist's identity revealed
Diwali: What is the festival of lights – and how is it celebrated around the world?
Nelson Bunker Hunt dead: Former world’s richest man dies in 'modest circumstances' in US after losing his fortune
Cameron is warned 'no possibility' of UK reducing immigration and that bid to bring in quota on migrant workers would be illegal
Of course, teenage girls need role models – but not like beauty vlogger Zoella
Support for EU membership 'at highest level since 1991' with most Brits wanting to stay 'in'
Residents should throw a street party and mix with immigrant neighbours, councils told
Russell Brand threatened with arrest after filming outside Fox News headquarters
London bus driver 'kicks gay couple off for kissing'
£20000 - £22000 per annum: Ashdown Group: Systems Tester - Functional/Non-Func...
£350 - £360 per day: Ashdown Group: SQL Developer with T-SQL, Watford, Hertfor...
£65000 - £80000 per annum: Ashdown Group: Business Intelligence Consultant - C...
£70 - £85 per day: Randstad Education Group: SEN Teaching Assistants needed in...