This is an extract from the letter sent by RBS to the Treasury Committee answering questions about Fred the Shred's pension.
Good info on who knew what when. Click on it to read the whole thing.
Wednesday, 4 March 2009
RBS letter on Fred the Shred
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2 comments:
Unpalatable as it may be and taking Sir fred's comment to the Treasury Select Committee at face value, then he has been dealt with under the cCompany's normal rules. This is fine as long as all the RBS staff who will be redundant because of Sir Fred's and the Board's improvidence are treated identically - pension paid at 50 or later with no abatement for early payment and full enhancement of terms based on service to age 60. If not then the Board needs crucufied.
As was generaly assumed they just wanted him out the way pronto just too show they were "punishing" people responsible. But how do you get a board of directors to vote for their own demise? promise them their persk are protected! Some punishment Myners and Brown. The above extract proves you have told a bare faced lie and repeatedly so.
SHAME ON YOU!
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