Best Job in the World?

Royboy39 · 26-02-2009, 17:56

When you are asked to stand down...or so I believe, for the failure to manage the Organisation you are in charge of should you or anyone else be given a handout of this magnitude?

BBC NEWS | Politics | Sir Fred 'won't give up pension'

Morecambe Ex Pat · 26-02-2009, 18:34

People like Sir Fred are paid big bucks by big organisations because under a high profile and vastly experienced figurehead, a company can thrive, increase profits and make large sums of money for their shareholders. Success is and should be rewarded in any highly profitable business.
When the opposite is true and the company loses obscene amounts of money, there cannot be huge payouts to bosses and investors because there is no money left in the pot.

The government had to act to save the banks but to give the prize money to the 'weakest link', that is against the rules of both business and something the powers that be lack these days, common sense.

jaysay · 27-02-2009, 11:21

HMGs excuse for not stopping this when the bail out occurred was that this pension was in the words of Gov minister Timms that it was set in tablets of stone and that there was nothing they could do. Now some months down the line it appears that it was nothing of the sort, to me due diligence wasn't used when negotiating this bail out, how can people like Simpson expect these obscene payments when, but for public money there wouldn't have been a bank to pay pensions worth two pence never mind £700,000

Morecambe Ex Pat · 27-02-2009, 13:58

Are these pensions negotiated in such a cast iron way that the recipient gets the money whatever happens?
How stupid.
For that sort of a deal, they could have got someone who understood banks and financial institutions rather than just a greedy no-hoper. It will always be said that it is not just the top boss who caused the problem. I say the buck stops fairly with the top man and if the istitution fails it is his fault.

Taking a wider view, where has all the money gone, toxic debt? (is that a new phrase?).
So banks have leant all this money out and have no chance of getting a lot of it back. I reckon this has been going on for many years but they have only just realised that their pockets are empty.

Are they still trying to convince us that the top man knew nothing of these problems?

Tealeaf · 27-02-2009, 14:10

This news only broke in the mainstream media yesterday morning. I have, however, heard a rumour that some people here on the Accy Web knew of this story as early as last sunday. Anyone here wish to confirm this?

jambutty · 27-02-2009, 14:17

It feels like an “old boys pact ” is at work here.

Instead of being allowed to step down Fred whats his name should have been sacked for incompetence and that would probably have sorted out the question of pension rights. But it has been reported that Fred was a personal friend of Brown and other cabinet members so a sacking would be out of the question.

We call Mugabe for being corrupt but there is nothing more corrupt than the current mob in office and the fat cats.

MargaretR · 27-02-2009, 14:17

Quote:

Originally Posted by Tealeaf

This news only broke in the mainstream media yesterday morning. I have, however, heard a rumour that some people here on the Accy Web knew of this story as early as last sunday. Anyone here wish to confirm this?

My crystal ball tells me a lot but I don't always let on - don't want to cause panic do we?

Tealeaf · 27-02-2009, 14:48

Quote:

Originally Posted by MargaretR

My crystal ball tells me a lot but I don't always let on - don't want to cause panic do we?

I heard that the rumour was a bit more specific than your crystal ball.

Wynonie Harris · 27-02-2009, 15:10

Quote:

Originally Posted by jambutty

We call Mugabe for being corrupt but there is nothing more corrupt than the current mob in office and the fat cats.

You can't possibly compare Britain to Zimbabwe. After all, Zimbabwe is being run by a meglomaniac who refuses to ever admit to being wrong and who wasn't actually elected to run the country, the currency is becoming increasingly worthless, unemployment is rising and the economy is on the rocks.

Oh, hang on a minute....

jaysay · 27-02-2009, 17:13

Quote:

Originally Posted by Wynonie Harris

You can't possibly compare Britain to Zimbabwe. After all, Zimbabwe is being run by a meglomaniac who refuses to ever admit to being wrong and who wasn't actually elected to run the country, the currency is becoming increasingly worthless, unemployment is rising and the economy is on the rocks.

Oh, hang on a minute....

Are you sure thats Zimbabwe your talking about Wynonie

yerself · 27-02-2009, 19:10

Quote:

Originally Posted by jaysay

Are you sure thats Zimbabwe your talking about Wynonie

No, he's getting confused. It's Hyndburn Borough Council he's referring to.

Wynonie Harris · 27-02-2009, 20:27

Quote:

Originally Posted by jaysay

Are you sure thats Zimbabwe your talking about Wynonie

I was being satirical!

derekgas · 27-02-2009, 21:09

It is a trait learned from politicians, looking out for each other, and lining each others pockets. (the fat cats and shareholders that is).

accyman · 28-02-2009, 00:52

wether anyone thinks it is fair or not that he gets this pension its no one elses buisness but his own simply because it is what he was offered by contract and if the govenment was stupid enough to give it him or not spot it when they helped out then more fool them

no matter how much gordon brown spits his dummy out or kisses up to the public by taking a stance that he thinks will win him the publics approval and makes us like him any more the fact is the guy wether you agree or not is entitled to what was in his contract

peoples arguments shoudlnt be aimed at Sir Fred for taking a pension out of a bank funded by public money but arguments should be aimed at the moron that gave him the pension but sadly every MP available with gordon brown been the most outspoken is hogging every soundbite with the press and every minuite of airtime available to condem a guy for taking money which they quite freely gave him

for the life of me i cant figure out how labour have let gordon brown remain where he is so long, our Gregg Pope would make a better job of been the labour party leader than gordon brown does

hey im not a conservitive voter but it is sad that in voting for a damn good MP (mr pope) i am helping to keep gordon brown in power

ps:

i aint a wealth guy sticking up for another wealthy guy , ask anyone who knows me im p*ss poor as the saying goes but it irks me to see the govenment push all teh blame onto Sir Fred just to deflect blame away from themselves where blame lies

cashman · 28-02-2009, 01:14

good post accyman,pity it wont let me give ya karma.