the shredder
So this gentleman, who was known as fred the shred because of a legendary reputation of cost-cutting and clinical efficiency, turns out to have been the plum behind the near collapse of the Royal Bank of Scotland. Mr Peston, economist extraordinaire and wry-smile of the year award holder said this about him. Mr Peston also give the low-down on the actual negotiations that happened before the pension was approved.
So now, as a tax-payer and one that almost totally owns the RBS – I am pretty cheesed off. But then again, with such a system in place, I don’t blame him for taking advantage of it. I guess many of us in such a situation and with such financial power at our fingertips would right away guarantee ourselves such a large sum of money – no questions asked.
