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	<title>Boardmad &#187; RBS</title>
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		<title>Fred get&#8217;s shredded&#8230;</title>
		<link>http://www.boardmad.com/2009/02/27/fred-gets-shredded/</link>
		<comments>http://www.boardmad.com/2009/02/27/fred-gets-shredded/#comments</comments>
		<pubDate>Fri, 27 Feb 2009 22:25:34 +0000</pubDate>
		<dc:creator>Scott Brown</dc:creator>
				<category><![CDATA[Uncategorized]]></category>
		<category><![CDATA[Fred the Shred]]></category>
		<category><![CDATA[pension]]></category>
		<category><![CDATA[RBS]]></category>

		<guid isPermaLink="false">http://www.boardmad.com/?p=158</guid>
		<description><![CDATA[So here&#8217;s the deal&#8230;I work in an investment bank as a very small part of the big motive engine that grinds the cash, that feeds the global money markets and keeps us all stretching for the golden ring. I&#8217;ve been awestruck as many of us have over the past weeks and months, at the utter [...]]]></description>
			<content:encoded><![CDATA[<p>So here&#8217;s the deal&#8230;I work in an investment bank as a very small part of the big motive engine that grinds the cash, that feeds the global money markets and keeps us all stretching for the golden ring.</p>
<p>I&#8217;ve been awestruck as many of us have over the past weeks and months, at the utter collapse of RBS (an institution for whom I used to work) and the ensuing blamestorming that&#8217;s been undertaken by various wooly-suited, political non-entities at the &#8216;hearings into financial probity&#8217; farce.</p>
<p>So where do I stand on this embuggerance ?</p>
<p>&#8220;Who cares..?&#8221; I hear you decry !</p>
<p>Well&#8230;I do. &#8220;Fred The Shred&#8221; is not a term of endearment you know, he came to us as the head arse-kicker in RBS via a number of significant &#8216;boot-application-to-buttock&#8217; roles through Bank of Australia, then via Scotland&#8217;s very own Clydesdale Bank&#8230;.he&#8217;s a long lineage in the deal-making, hard-boiled, &#8216;my way or yer bum&#8217;s oot the windae&#8217; style of management and the mythology that surrounded him in my time in RBS was legend.</p>
<p>So given his track record why are you all stunned he&#8217;s acted as he has while leading RBS&#8230;he&#8217;s a nutter ! When he sticks two fingers up at the stock market and says &#8216;I want ABN&#8217; come hell or high water, nevermind what your so-called analysts see as glaring gaps in the financials, or once finally being brought to heel (but still not accepting &#8216;mea culpa&#8217;) infront of a government sub-committee, and most recently claiming his pension (there&#8217;s an OAP I&#8217;m tempted to shadow to the local post office and trip on the way back to the hoose!) why are you stunned by his brazen mendacity ?</p>
<p>I&#8217;ll tell you&#8230;in Britain we love to hate a winner&#8230;it&#8217;s a desperate inferiority complex ! And the only thing we love to hate more than that ? A winner who&#8217;s now on his @rse&#8230;and don&#8217;t we revel in sticking the boot in ?</p>
<p>Though having said that&#8230;£1.2k per day pension &#8217;til he pops his clogs ? I might enter the hitman business and see if HM Gov needs my services ?</p>
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