Friday, 6 March 2009

Myners - its not technically illegal....

So, Lord Myners worked as a director in banking.
His bank were bought by Natwest.
Natwest were then bought by RBS.
He stepped down, i think before Fred Goodwin became CEO, but they would have been aware of each other.
Years later, he gets to decide whether Fred Goodwin gets a huge pension and pay out.
As he has said, its not illegal, and as they never directly worked for or with each other, its not technically a conflict of interest.
But, it walks like a duck, quacks like a duck, and to the uneducated man in the street, sure as hell looks like a duck. Calling it a drake doesnt make it ok.
Dont forget, as per Mandy, Myners is unelected. At least he doesnt draw a government salary. And after all why should he, as in the last year he started collecting his generous pension well after all the takeovers it would be from RBS... so that's us then...

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