Wednesday, 1 February 2012

My rant on Sir Fred and other less esteemed

With all the media frenzy over Fred's removal from the list of the knights of the realm,the clamour for the removal of other esteemed nobles that have committed unscrupulous deeds.

Top of the list,Sir Jeffrey Archer whose spell in prison on charges of perjury have yet to result in a note for the Queen.

However the one that sticks in the throat of some is the case of Farepak chief Sir Clive Thompson who left 150,000 out-of-pocket people now facing a decidedly un-merry Christmas when their savings scheme collapsed back in 2006.

The fact that most of these people were at the low income end of society and that the scheme was for many their only hope of a decent Xmas makes his misdemeanours far wore than that of Sir Fred.

His connections to the Company led to Insolvency Service taking action to sanction him and apply to the High Court to disqualify him from being a Director of a company

And on that note,let's just get one thing straight which statements from the government seem to have overlooked.Sir Fred and RBS did not create the financial collapse.They were mere symptoms of a credit and debt bubble which had been allowed to run out of control since the mid 1980's and continues now under a fifth Prime Minister .

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