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"Fred the Shred" for his strategy at Royal Bank of Scotland
benaloy
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1-30-2009 12:20 AM
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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/e54ff83c-fdb9-4eca-a200-94a5d7125240/55944C47-AA9C-49E9-94AA-CD6FD4C29D3E/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://www.guardian.co.uk/business/2009/jan/26/road-ruin-recession-individuals-economy" href="http://www.guardian.co.uk/business/2009/jan/26/road-ruin-recession-individuals-economy" style="font-size: 11px;">www.guardian.co.uk</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.guardian.co.uk/business/2009/jan/26/road-ruin-recession-individuals-economy"><STRONG>Sir Fred Goodwin, former RBS boss</STRONG></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.guardian.co.uk/business/2009/jan/26/road-ruin-recession-individuals-economy"><div align="center"><img src="http://content6.clipmarks.com/blog_cache/www.guardian.co.uk/img/79D9C3BC-AFFD-4FFD-971D-88765AA45634" alt="Fred Goodwin" /></div></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.guardian.co.uk/business/2009/jan/26/road-ruin-recession-individuals-economy"><P>Once one of Gordon Brown's favourite businessmen, now the prime minister says he is "angry" with the man dubbed "Fred the Shred" for his strategy at Royal Bank of Scotland, which has left the bank staring at a £28bn loss and <A href="http://www.guardian.co.uk/business/marketforceslive/2009/jan/19/barclay-brothers-banking" linkindex="65">70% owned by the government</A>. The losses will reflect vast lending to businesses that cannot repay and write-downs on <A href="http://www.guardian.co.uk/money/2008/dec/31/investments-city-credit-crunch" linkindex="66" set="yes">acquisitions masterminded by Goodwin</A> stretching back years.</P></blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;"> </td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/55944C47-AA9C-49E9-94AA-CD6FD4C29D3E/blog/" title="blog or email this clip"><img src="http://content7.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>
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