Banker Of The Week: Royal Bank of Scotland’s Sir Tom McKillop
ROYAL Bank of Scotland chairman Sir Tom McKillop, 65, stepped down three months ahead of schedule. He hopes for a new trouble-free life on a golf course somewhere.
The surprise move comes a week before McKillop and the cheerful cheeky chappie of banking RBS chief executive Sir Fred Goodwin are due to appear before the Treasury select committee to answer questions about the bank’s massive and unforgivable cock-ups.
It is the opinion of most very sensible taxpayers these two Monopoly Money burners should be the first to be taken straight from any Parliamentary inquiry, should not Pass Go, be charged and at once put up before the Beak for the most disgraceful bank failure in British history.
It is gradually being revealed the truth actually was the RBS and Halifax-based (but allegedly Scottish) HBOS bank were within minutes of total collapse before a terrified UK Government had to step in.
McKillop, who has already been hammered for not checking Goodwin’s allegedly “serial acquiror” tendencies, had been due to retire at the April AGM.
The Scotsman has the Busines Page version of the tale: Boss Quits
Meanwhile: Investors are starting to introduce private prosecution against the RSB. Something to do with the fact that the Bank issued a glowing and extremely rosy-pictured version of the bank’s prospects weeks before the crash. The argument appears to be the Boss Hogs knew the true position back then. Though it has to be reasoned, it is true it is difficult to be accurately subjective or even objective if your arse is waving Babe naked in the ozone layer while your disproportionately large snout is rapaciously guzzling from the financial trough at the same time. Judgements get clouded and banks crash, allegedly that is. It should be added the RBS duo also lost thousands in the share-issue being complained of
…thick and thicker or what?
…and while we’re on the subject of the top WBanker Award let us never forget the Northern Rock Duo. The Disaster-Masters Matthew Ridley (Prof and Charmaan) and Adam (Shagger) Applegarth, the self-admitted incompetent CEO of the Northern Rock.
I don’t usually do this …but we bloody-well told you so ….and Chenier and others (like the missing and, in my case mourned for, Bob Green) told you so long before any of the others.
I’m told Ye Olde Ed Paul Sorene would welcome nominations for a Top Banker of the week for the front page of Anorak…get Googling…there are enough of the greedy bastards out there and everyone single one of them should be brought to account and asset-stripped.
They’ve done it to others every waking minute for years…get your own back and right now….
– AGW
Posted: 4th, February 2009 | In: Money Comment | TrackBack | Permalink
