Wednesday, 25 March 2009

Fred Goodwin

I can understand but not tolerate the vandalising of Fred Goodwin's home and car. I believe we should introduce retrospective legislation to reclaim my money from this man. Okay, so perhaps it was granted by his pals on the RBS board under his contract. But contracts are instances of laws. Laws are the will of our democratically-elected Parliament enacted by that body. When a gross situation such as this occurs it can be right to change the law, even retrospectively, particularly to defend taxpayers whose money is taken from them on pain of imprisonment.

If I choose to withhold the money taken from me to pay off Fred Goodwin then I am imprisoned. That changes the game as far as I am concerned. Private companies can do what they like with their shareholders' money which is given voluntarily: their boards can be sacked. Public companies like RBS cannot do what they want because I am imprisoned if I withhold my contribution. Retrospective legislation can be right and justified in situations like this. But however much I want to claw this money back, it is never right to visit violence on him or his property. 

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