Monday, October 13, 2008
Fred Goodwin hangs tough
You worked for an inconsequential arm of National Australia Bank.
You walked to an historic but small bank in Scotland.
You went on a binge of overpriced and insane acquisitions and turned your tiny bank into the world's largest by balance sheet.
The bank failed at huge risk to the global economy and required government to bail it out.
And you did not resign and instead hung tough for a golden parachute.
I have said that you are the worst CEO of any major bank anywhere. Vindication I claim.
Resign and waive the right to any package. It is simply indecent to charge a parachute to the taxpayers.
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