Banking crisis - Knighthoods

[crix1234]

Will the bankers who gained their knighthoods from services to banking, and who have now presided over the collapse of the banking system, have their knighthoods stripped from them?

[4winds]

They jolly well should have .....and their last 2 years' salary............bonuses??? don't get me started!!!!!!!!

[Gromit]

These people are only guilty of being bad a their jobs. They worked within the law, and it is the inadequate regulatory system that is the real culprit.

There are many people who have honours who have been convicted of criminal activity. They keep their so called 'honours' so just being incompetent is hardly good enough grounds to strip of their gongs.

- Lord Gromy of Wensleydale

[Octavius]

I doubt Fred Godwin will, him and gordy are bestest buddies. It was Gordy that recommended he got it in the 1st place and who put him in the IBAC.

Last year Gordy even refused to allow Mugabe to be stripped of his Honorary Knighthood, but eventually gave in when her maj anulled it.

[crix1234]

You could regard their actions (or inaction) as criminal negligence. After all Nick Leeson was did time for something similiar but on a much shorter time scale!! They were both gambling with other peoples money, then tried to hide mess. Send them to the tower I say!

[Panic Button]

Nick Leeson looks a saint compared to these idiots

[flip_flop]

I don't think you can simply absolve them of any fault Gromit by laying the blame at the door of the FSA.

Certainly the FSA should have had an inkling of wht was going on, but as is so often with the FSA (and I've seen this a lot with them), they are masters at slaming the door once the horse has well and truly naffed off.

You refer to the bankers as working within the law and being incompetent - I see it slightly, but crucially, different. They were working within the law but have been negligent.

Unfortunately, their negligence has had massive ramifications, and therefore at the very least the FSA should withdraw their Approved Persons status so they cannot hold any regulated positions ever again.

[Gromit]

flip_flop

The British Banks should have checked that the investments they were buying were as advertised. They were told they were AAA rated (least risky) when in reality they were also package with a lot of very risky investments which very quickly became toxic.

We do not know why this check never occurred. I suspect we never will. We can speculate whether it was incompetence, negligence or complacency. What we don't think at the moment, is that it was criminal.

I am not absolving them of any responsibility, I am just giving them the benefit of the doubt that they had no criminal intent, and that they did their best, which as we know was woefully poor.

[flip_flop]

Oh yes, completely agree.

[Hotlardlife]

We never saw anyone complaining when the whole country was living off the back of the greed. Dont forget McBottle and his mates get more then 1/2 of those big bonuses(Emplyers tax + employees tax Plus 40% Income tax).
Hanging the Bankers out to dry now is a bit rich, but typical of baying crowds and this countries new found clamour to blame someone other than themselves. In a way we are all to blame, we all tok the loans, wasted money/resources etc.

Nick Leeson was a criminal, its quite different.

Back to teh question, no, unless they are proved grossly incompetant and their honour was for competance or were criminally negligent then they should not loose the honour.