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Call to strip title from Sir Fred | Call to strip title from Sir Fred |
(about 3 hours later) | |
A Scottish MP is calling for the former chief executive of the Royal Bank of Scotland, Sir Fred Goodwin, to be stripped of his knighthood. | A Scottish MP is calling for the former chief executive of the Royal Bank of Scotland, Sir Fred Goodwin, to be stripped of his knighthood. |
Jim Sheridan, Labour MP for Paisley and Renfrewshire North, has also asked the Metropolitan Police to investigate the activities of senior bankers. | Jim Sheridan, Labour MP for Paisley and Renfrewshire North, has also asked the Metropolitan Police to investigate the activities of senior bankers. |
His call comes as the row continues over Sir Fred's £16m pension fund. | His call comes as the row continues over Sir Fred's £16m pension fund. |
Prime Minister Gordon Brown has launched a stinging attack on the role of the banks in sparking a recession. | Prime Minister Gordon Brown has launched a stinging attack on the role of the banks in sparking a recession. |
Mr Sheridan told BBC Scotland: "I think Sir Fred should hand over his pension and if he had a grain of morality he would do that. | Mr Sheridan told BBC Scotland: "I think Sir Fred should hand over his pension and if he had a grain of morality he would do that. |
"We should be looking to take the knighthood off him because I think people would have some difficulty referring to him as Sir Fred given what he's done." | "We should be looking to take the knighthood off him because I think people would have some difficulty referring to him as Sir Fred given what he's done." |
'Morally wrong' | 'Morally wrong' |
Mr Sheridan also called for a review looking at remuneration for bankers and chief executives.Jim Sheridan wants the police to investigate senior bankers' activities | |
"There is something morally wrong with people taking excessive bonuses, dividends or pensions at the same time that people in the industry are losing their jobs as a direct consequence of the activities of these people," he said. | "There is something morally wrong with people taking excessive bonuses, dividends or pensions at the same time that people in the industry are losing their jobs as a direct consequence of the activities of these people," he said. |
Mr Sheridan explained why he had contacted the police. | Mr Sheridan explained why he had contacted the police. |
"I think there is no other profession in this country that causes as much disruption as the banking system without the police holding an investigation," he said. | "I think there is no other profession in this country that causes as much disruption as the banking system without the police holding an investigation," he said. |
"I think it's only right and proper that the police has access to all the transactions to make sure what has happened is either down to bad judgement or incompetence. | "I think it's only right and proper that the police has access to all the transactions to make sure what has happened is either down to bad judgement or incompetence. |
"Any bonuses and payments should be suspended until the police have carried out that investigation." | "Any bonuses and payments should be suspended until the police have carried out that investigation." |
Sir Fred was given his knighthood for services to banking in the Queen's Birthday Honours list in June 2004. | Sir Fred was given his knighthood for services to banking in the Queen's Birthday Honours list in June 2004. |
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