UK Banker stripped of his Knighthood.
An ex CEO of The Royal Bank of Scotland joins a select group of 12,
who've had the sword thrust back in their bellies, since 1946.
2004 Fred Goodwin, Knighted for his "services to banking"
2012 Fred Goodwin, De-Knighted for his services to banking
Goodwin, (aka 'Fred the Shred') is a real popular guy. Denounced by all sides, vandals (read outraged citizens) have attacked his palatial abode, and his Mercedes.
U.K. Claws Back Goodwin's Knighthood
LONDON: The dark knight of British banking has been ordered to hand in his sword.
In what may be the ultimate clawback for a bank boss in the wake of the financial crisis, a U.K. government panel has stripped the knighthood of former Royal Bank of Scotland Group PLC Chief Executive Fred Goodwin.
Mr. Goodwin was awarded a knighthood in 2004 by Queen Elizabeth II, an honor bestowed upon elite members of the U.K.'s corporate, cultural and military worlds. In those days, Mr. Goodwin was already known as "Fred the Shred" for a cost-cutting zeal that resulted in thousands of job losses. But after transforming RBS into a profitable international player, he was cited for "services to banking" in receiving his knighthood.
Four years and a handful of risky deals later, however, RBS nearly collapsed amid the credit crunch. It only survived with the aid of a U.K. taxpayer bailout to the tune of £45 billion, or about $71 billion. Regulators and politicians now say that RBS's demise helped trigger one of the worst recessions in the U.K. since World War II.
http://online.wsj.com/article/SB10001424052970204652904577195030394822816.html?mod=googlenews_wsj
