Monday, 12 March 2012
Pride and pocket
Having already lost his knighthood over the RBS debacle, Fred Goodwin is now also facing possible legal action from disgruntled shareholders who believe that they were misled into paying £2 for RBS shares in a rights issue just months before the crash. Calton wonders which is more painful for Fred - the dent to his pride in losing the 'Sir' or the potential hit on his pocket? It could be a double whammy. One thing is certain - there are a lot of RBS shareholders who have suffered losses through Fred's mismanagement of the bank, including a number of pension funds. Calton doesn't blame them for wanting their day in court.
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