The business community can be its own worse enemy at times, can't it? Whilst politicians, the media and the vast majority of people in this country have welcomed the move, figures from the business world have condemned the decision to strip Fred Goodwin of his knighthood.
The Institute of Directors (IoD) has warned of politicians creating "anti-business hysteria." Whilst former Labour Trade Minister and ex-Confederation of British Industry head Lord Digby Jones said there was "the faint whiff of the lynch mob on the village green" about the move.
The argument is that Fred the Shred has not been convicted of crime and traditionally only convicted criminals or people struck off professional bodies have had knighthoods taken away. Ultimately, however, he was given the title for services to banking. Considering his role in creating the biggest financial recession in modern times, it's the right thing to strip him of the knighthood. Of course, others should shoulder the blame as well but the man is the epitome of everything that went wrong with banking. To quote a Cabinet Office spokesman: "The scale and severity of the impact of his actions as CEO of RBS made this an exceptional case."
The public is shifting to the left (admittedly, you wouldn't guess it from the polls but put that down to the lame duck leader of the opposition that is Ed Miliband). All across the country people are feeling the squeeze and, in many cases, facing genuine hardship. Which makes it all the more ridiculous that the business community should see fit to talk of lynch mobs and scapegoats.
The Institute of Directors (IoD) has warned of politicians creating "anti-business hysteria." Whilst former Labour Trade Minister and ex-Confederation of British Industry head Lord Digby Jones said there was "the faint whiff of the lynch mob on the village green" about the move.
The argument is that Fred the Shred has not been convicted of crime and traditionally only convicted criminals or people struck off professional bodies have had knighthoods taken away. Ultimately, however, he was given the title for services to banking. Considering his role in creating the biggest financial recession in modern times, it's the right thing to strip him of the knighthood. Of course, others should shoulder the blame as well but the man is the epitome of everything that went wrong with banking. To quote a Cabinet Office spokesman: "The scale and severity of the impact of his actions as CEO of RBS made this an exceptional case."
The public is shifting to the left (admittedly, you wouldn't guess it from the polls but put that down to the lame duck leader of the opposition that is Ed Miliband). All across the country people are feeling the squeeze and, in many cases, facing genuine hardship. Which makes it all the more ridiculous that the business community should see fit to talk of lynch mobs and scapegoats.
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