EXCLUSIVE PICTURES BY CHRIS WATTS
Fred Goodwin joined the ranks of Robert Mugabe and Nicolae Ceausescu last night when his knighthood was removed by order of the Queen.
The step was taken on the advice of a secretive Whitehall body responsible for the integrity of the honours system.
The Forfeiture Committee decided Mr Goodwin had brought the system into disrepute and his actions as Royal Bank of Scotland boss made it an exceptional case that merited him joining a shamed group of former dictators and criminals who have lost honours.
The Cabinet Office said RBS’s failure helped ‘trigger the worst recession in the UK since the Second World War’.
‘Fred Goodwin was the dominant decision maker at RBS at the time,’ a statement added. ‘The retention of a knighthood for services to banking could not be sustained.’
Mr Goodwin, who cost taxpayers £45billion as he steered his bank to disaster, was telephoned by Sir Bob Kerslake, head of the home civil service, at 3pm yesterday with the shattering news. There is no right of appeal.
Full story can be found on Daily Mail website
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