Can We Drop the ‘Sir’, Fred?

The figure keeps changing but its never in danger of presenting the receiver of the sum in any greater light.

£695,000, £650,000, £675,000 … Sir Fred ‘The Shred’ Goodwin’s pension leaves a particularly nasty taste in the back of my throat.  I’m fed up with seeing his smug face splattered across the UK media and couldn’t agree more with the wide condemnation of his refusal to forgo his undeserved and highly immoral pension.  Indeed, if I wanted to see his face splattered anywhere, it’d be across the ageing tarmac of the M1.

As I say, this is particularly hard to bear at the moment having recently heard from a member of my family about a substantial loss they’ve made on some savings.  Due in no small part to the torrid financial situation we now find ourselves in, it was also due to some monumentally bad advice given at the point the savings account was opened.

Fred (as I shall now refer to him) is an overtly public and high-profile reminder of just how inept and and self centred the people who run our banking system are but he is no different to the admittedly lower level but equally moronic bank rep who sold my poor family member an unsecured savings account.

Having explained they are low risk customers who simply want somewhere to put their hard earned cash and see a bit of a return, this character surreptitiously slipped them a fast one by offering an account that was in fact floated on the stock market.  As a result, they have just discovered that their savings are down by a four figure sum.  It is absolutely criminal that poor advice like this has been willingly given out.  I’m sure, just like Fred, our friend at Alliance and Leicester was basing his advice purely on the percentage commission he’d receive for having given it out.  Being a salesman myself I know all about the lure of commission and it’s potential to utterly ruin your objectivity and, above all, forget your duty to be human.  However, I sell computer systems to hotels, this chap was selling the basis for the twilight years of someone’s finances.  Decent, basic respect for the person you’re selling to must come in there somewhere, musn’t it?

How Fred can sleep at night is beyond me.  If I ballsed my company up as spectacularly as he did with his disasterous acquisition of the Dutch bank, ABN-Amro, I’d be out on my ear with little more to accompany me than the lunch box I left in the lunch room several months ago.  I certainly wouldn’t receive an on going sum of money that could see me living the rest of my years in Monaco, bathing in the glorious sunlight of unprecedented wealth and multiple yachts.

I urge anyone with savings to review their accounts as soon as possible.  I feel almost blessed that I don’t have too much stashed away but anything I do have will be invested wisely and, more importantly, wont be waived under the nose of a hungry, immoral banker.  We’re deep into the woods with this one at the moment and the end is a long way off, but it has become clearer than ever over the last few months that we simply can’t trust these people that, for years, were our guiding financial lights.

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