15 May 2009

Myners should do what is honourable and resign

Further criticism is dumped on Lord Myners, who failed to block Sir Fred Goodwin's £16.9 million pension payoff, in the latest report from Treasury Select Committee:

We suspect that Lord Myners's City background and naivete as to the public perception of these matters, may have led him to place too much trust in the RBS board. Indeed, in evidence to us, he described the RBS board as 'distinguished.

It would have been far better if Lord Myners had given a stronger, clearer direction of government requirements for a bank in receipt of public funds and had assured himself by demanding to be kept informed of the detailed negotiations that were taking place.

Sir Fred Goodwin’s failed policies lead to £20bn of public money being used to bail out RBS.  Lord Myners failed to carry out a thorough due diligence on behalf of the taxpayer.  It is high time that Myners took responsibility for his own incompetency and resigned.

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1 comment:

  1. Lord Myners should have resigned weeks ago.
    Lets hope Fred Goodwin does not live too long at our childrens expense.