Poor Sir Fred Goodwin having to give up a multi million pound salary, at least he can reconcile himself with his £13,000. per week pension!
Sir Fred who oversaw a bank that saw record losses of 21.8 billion pounds and could be said to be a huge contributor to this financial mess we are in,
yet he doesn’t even know the meaning of the words ‘credit crunch’! Many in Southend are fighting to keep hold of their jobs and unlike Sir Fred do not
have the comfort of such a large pension to full back on.
There has to be a link between the bank he managed to blow up and his personal earnings. Other people who do something proportionally similar would possible be sacked and certainly would not be able to take early retirement and receive such sums.
£13,000 could go such a long way for a lot of people in our town – some people are not even lucky enough to earn that in a year.