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It Is Now Illegal To Refer To Former RBS Banker Fred Goodwin As A Banker

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Remember Fred Goodwin? He was the CEO of RBS for a number of years (about 8) and for many of them, probably right liked being called a 'banker.' Like in 2000, when he was name Chief executive and in 2006, when he was voted the most powerful businessman in Scotland. Years from now he'll look back on his tenure fondly but at this moment, he's having some difficulty recalling all the good times, in light of how badly things ended, and the fact that people won't stop making him feel guilty for putting the pieces in place the caused RBS to lose a spectacular amount of money and wind up with 82% of its ass owned by the government.

Goodwin's been trying his hardest to move on and maybe even embark on a new career as a party planner but what's making it so hard is that every time he opens a newspaper, he sees his name next to the word 'banker.' Refraining from reading papers doesn't help either because of course you've got the internet and you can't expect him to not have a Google alert set up for himself, now can you? Anyway, Goodwin tried to reason with the press and just get them to drop the 'banker' business altogether or at least swap it out for a better description like 'genius' or 'piece of ass' but they wouldn't listen, so what Goodwin had to do was play hardball.

Goodwin, who presided over the near collapse of the Royal Bank of Scotland, was reported to have been angered by press coverage after he became popularly known as "Fred the Shred." He is the latest high profile figure to obtain a superinjunction, it has emerged. The existence of the measure – which bans the press from reporting that an injunction has been obtained – can be revealed after a backbench Liberal Democrat, John Hemming, raised the issue in the Commons. "In a secret hearing this week Fred Goodwin has obtained a superinjunction preventing him being identified as a banker," said Hemming, the MP for Birmingham Yardley.

Fred Goodwin gets superinjunction to stop him being called a banker [Guardian]


Layoffs Watch '12: RBS

Like Bank of America, RBS has some big goals for the coming year, chief among them being the firing of several thousand investment bankers. (For those skeptical they can do it, according to a PowerPoint presentation presented yesterday, re: the "exits," quite a bit of progress has already been made.) Royal Bank of Scotland, Britain’s biggest government-owned lender, said it will cut 300 more jobs at its investment banking unit and is “on track” with its plan to exit businesses. RBS will eliminate 3,800 jobs at the division by the fourth quarter of next year, compared with an earlier target of 3,500, according to slides based on a presentation delivered by John Hourican, chief of markets and international banking, to analysts Monday. About 3,000 of the cuts will have completed this year, RBS said...The bank’s control of costs is “ongoing,” said Chris Kyle, chief financial officer of markets and international banking, at the presentation. “We will almost certainly hit this year’s number” in terms of the guidance, he said. Royal Bank Of Scotland Cuts 300 More Jobs At Investment Bank [Bloomberg] RBS Markets Investor Roundtable [RBS]