31 January, 2012 16:58
Matthew Hancock MP: Statement on Fred Goodwin's Knighthood
I believe the Forfeiture Committee have made the right decision. Fred Goodwin broke one of the biggest banks in the world - took early retirement - and left the British taxpayer to pick up the bill. His decision to pursue an exceptionally complex banking takeover, just after the onset of the credit crunch and without proper due diligence, was a reckless gamble that brought down a 300 year old business, and cost the country £45 billion.