RBS: Goodwin could face charges under Companies Act

Goodwin could face charges under Companies Act

GOOD!!!

That's a start...now try and find something to charge the FSA with. Being bloody stupid isn't a crime unfortunately so we'll have to think of something else.

About time. The guy was reckless in the extreme and an egomaniac. He risked shareholder's money as if it were his own - no, he would surely have taken more care if it were his own.

That's great news, however they were in a race that BarclYs started, if there share price would have not gone down in the first place at the same time they were trying to use the equity for leverging more loans against it would have. even barclays in this mess instead! they are all as bad as each other, throw away the key I would say, as for the fsa the people running this as mostly ex financial services, all revolving doors!

And onto Lehman Brothers please !!

This is the guy who took out an super-injunction banning newspapers from calling him a "banker"

Shame he cant spell.

Did I hear on the radio this morning that there was also criticism of Hector and other staff at the FSA for taking bonusses whilst the banks tumbled around them?

Maybe Citywire would like to investigate that, and get their colleagues in the nations to make a bigger song and dance about that.

BTW - Fred should be hung, drawn and quartered, and have his wealth handed back to the shareholders.

Sir (sic) F Goodwin (not a banker) could be charged ?

If Dr V Cable MP is driving it then don't hold your breath.

@ James I have written to TSC (the instigator of this report) pointing out the reckless actions of the FSA concerning the regulation of the RBS Bank and have asked them to consider if the FSA actions could be deemed negligent.

See city report and table (no mention of staff holiday cover, sickness or importantly any continuity of management).

http://www.citywire.co.uk/new-model-adviser/fsa-we-spent-too-much-time-on-rdr-instead-of-rbs/a551883?ref=new-model-adviser-latest-news-list

"not sufficient evidence to punish the RBS directors under the FSA’s rules", eh?

You can bet your boots that, under FSA rules, there'd be sufficient evidence if Mr Goodwin had held a similar position with an IFA firm.

And yes, how can the FSA possibly have justified its £20m+ bonus pot at a time when a number of banks were going down as a result of an almost total lack of regulatory oversight? Oh, I forgot ~ it doesn't have to, does it?

the "bonus" regime is a fraud/ particularly when applied by non profit organisations/ they are paid an agreed salary (at commercial or higher rates ?) why should they be paid for doing it efficiently/ I would have thought

that would be expected of anyone who took a job./ our civil service has become unaffordable due to their demands for commercial rate wages /salaries while still retaining the generous benifit arrangemenst while alledgedly low paid./ I would rate "bonus" alongside the bankers "wraps" as contributing to our present national financial state.

Of course ~ so why isn't the NAO at the very least questioning the FSA's bonus culture, not least because the bonuses get paid (using our money) no matter how disastrously the FSA fails to perform its statutory responsibilities? The involvement of the NAO, as far as the FSA is concerned, is nothing but yet another hollow sham of accountability.

Perhaps a FOI request ought to be submitted asking just what, if any, changes have ben implemented since the FSA waas made subject to annual audit. Were there any whatsoever, one assumes they would have been reported on CityWire and elsewhere.

Goodwin will never be charged/ if he was the whole board of directors would have to be included/ at the level he operated there are no consequences for failure of duty/ just look up the present position of others involved/ they are back in jobs high status in the city/ check out US Enron directors/ see where they are/

and the freewheeling Polly Peck/ currently in court/ high level incompetence/commercial or political (the EURO) is generally risk free/ unlike the recent sad case of police inspector mis-use of system.

I forgot to add Network rail ex directors (corbet el) have a look at his present status/ no real consequence to him for the disaster he ruled over.