Fred Goodwin to be stripped of knighthood

The honours forefeiture committee met earlier today to decide on the issue after prime minister David Cameron referred the decision earlier this month, saying it was not a choice for a prime minister to make. The banker presided over a huge expansion in RBS between 2001 and 2008, culminating in the bank heading a £49bn consortium deal to buy Dutch bank ABN Amro at the top of the market in 2007. Goodwin was awarded the knighthood for services to banking in 2004 but became a focal point of public anger during the financial crisis after the government was forced to make a £45bn bailout o...