Following the announcement Barclays bosses will face criminal proceedings over the bank’s conduct, Unite says RBS should be taken to task too.
Britain’s biggest union have called for disgraced RBS boss Fred “The Shred” Goodwin to follow Barclays executives into the dock over his bank’s calamitous collapse.
Unite claim Goodwin and other RBS bosses were let off the hook over the way shareholders were allegedly duped into a £12billion rights cash grab as the bank teetered on the brink.
The call was made after Barclays and four of their leaders were charged with criminal offences following a five-year investigation by the Serious Fraud Office.
Many believe alleged misdeeds by Barclays fall short of what went on at RBS, whose infamous turnaround division, Global Restructuring Group (GRG), face paying £400million in claims from 16,000 businesses exploited by bankers.
Unite national officer for finance Dominic Hook believes it was Goodwin and his cronies who caused the financial meltdown of 2008 – but got off scot-free.
Goodwin , 58, spends his days playing golf and tinkering with old cars at his Edinburgh mansion while drawing a £342,500-a-year pension.
Yet he was the man at the wheel when RBS expanded aggressively to become the world’s largest company by assets and the fifth-largest bank by stock market value.
He was also in charge as the bank, together with Fortis and Banco Santander, audaciously bought Dutch bank ABN Amro from under the nose of Barclays in 2007, a deal many believe led to RBS’s near ruin a year later when they were forced into a £45billion government bailout to save them from collapse.
The worst that Goodwin has faced is the humiliation of having his knighthood stripped from him in 2012.