Closing in

March 30, 2009
Sir Fred Goodwin

A clever poster of Sir Fred Goodwin, the ex-boss of the Royal Bank of Scotland (RBS) who resigned just before the bank posted a loss of £24bn for 2008, the largest ever loss in UK corporate history. Sir Fred left RBS with an annual pension of about £700,000.

In 2004 he was knighted for his services to banking.

For the non-UK readers, the targeting benefit thieves motif is used by Government’s Department of Works and Pensions for their campaign. Apparently benefit fraud costs the UK taxpayer £800m in 2008. RBS lost 30 times this amount during the same period.

(picture posted here)

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