The pension fund - of playing ducks and drakes

The current headline scandal of Sir Fred Goodwin’s (the ex Chief of RBS) pension pot has diverted attention very nicely from the potential losses faced by the taxpayer as RBS dumped toxic assets into the new "Asset Protection Scheme". Everything in this life is relative. His pot is said to be £16m odd. The toxic asset loss could be £50bn! A good day (27th February 2009) to bury bad news you might say.

Incidentally, if anyone thinks playing ducks and drakes with a pension fund is new and unique, read chapter 13 of Violets.

jgs-2009

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