Interesting piece pointing out why Fred's Pension is the consequence, not the problem.
http://stumblingandmumbling.typepad....s-failure.html
No, they can't take it off him - confiscation of property at executive whim is not what we're about in a British democracy and thus a clear breach of the European Convention on Human Rights.
Much better for RBS to sue him for dereliction of duty, or similar, but that runs the risk of, as Chris Dillow points out, revealing just why unrestrained executive greed wasn't just tolerated by the political leadership, but encouraged.
Quote:
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The common thread here is that the powerful don’t need restraining because they have our best interests in mind. If only leaders are given enough power, they can guide and protect we mere mortals.
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I missed the bit where they conclusively proved that absolute power doesn't corrupt absolutely after all.