Sir Fred 'The Shred' Goodwin and the banking bogeymen

By Talking Heads on Apr 2, 09 01:33 PM in

As the downturn rumbles on we ask Glaswegians what they think about the rewards for failure in big business...

Reward for failure - it seems to be the way in the modern business world.

As the credit crunch bites and the true financial state of the country takes shape we hear this term more often.

Sir Fred "The Shred" Goodwin seems to be the scapegoat for this current trend for shoveling heaps of cash in a failed professional's pockets before shoving them out the door.

And what awaits these high-powered duds? A bumper early retirement package that would make Bill Gates blush.

Me and you? Would we get a pay off? No chance.

It's not just bogeyman Sir Fred who's at it or the rest of the banking fraternity.

Is it something endemic in our modern society.

We took to the streets to find out what hard-working Glaswegians make of it.

"It seems like all we are doing at the moment is rewarding people for failure. "If I made mistakes and lost my job, it would be a case of 'see you later' and I am out the door."

Warehouse operator Richard Dickson, 36, from Partick

"I think this only really happens in big business. There's a big divide between business bosses and normal workers. It should be more balanced. "You don't see people doing everyday jobs getting pay outs if they get sacked."

Student midwife Isobel Crawford, 24, from Partick

"It seems the days that people get bonuses related to their actual performance at their jobs are gone. "Now they seem written into their contracts, so no mater how badly they do they still get their money."

Student nurse Neil Ingall, 21, from Partick

"I do think it's unfair that these bankers are seemingly rewarded for failure. MPs too. They are never held accountable, but they make a fortune too. "If I messed up at work I would walk away with nothing more than the tools I use, and that's as long as I've bought them."

Clydebank tiler James Troup, 50

"I think the economic climate plays a big part in it. If things were as good as they were, would we really be moaning about these bankers getting paid off? "I don't think so. Because people are feeling the pinch it's easy to pick on the Fred Goodwins of this world. "Don't get me wrong I don't agree with what he's walked away with, but it was probably in his contract."

Security guard Thomas McGivern, 63, from Partick

"There is no point in moaning about people like Sir Fred Goodwin and the others. "At the end of the day it was part of their contract and the law. They are protected by the law, so there's nothing we can do. "We should be thankful that we have these employment laws, even if you don't agree with them. They protect us all."

Polish chef Adam Dzierzawski, 32, from Partick