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Anger management

Brian Taylor | 14:32 UK time, Thursday, 26 February 2009

has been requested to give up at least part of his £650,000 annual pension entitlement.

The former boss of RBS is, we are told, "thinking about it".

At Holyrood, politicians suggested he might accelerate his thought process somewhat.

The party leaders were united in condemning the deal. (Annabel Goldie pursued a tack of her own with regard to VAT which need not detain us here.)

Tavish Scott of the LibDems was splendidly vituperative. He said that Sir Fred's package was 140 times the size of the state pension.

Iain Gray was agin it, as was the first minister.

However, at that point, unity evaporated. For Labour, Mr Gray attempted to pin the blame for the deal on Sir George Mathewson, formerly of RBS, now chairing the FM's team of economic advisers.

'Misfired attack'

Actually, he said that he was not out to undermine Sir George's reputation - then proceeded to attempt just that.

For this observer, the attack rather misfired. Not least because Mr Salmond ably deflected it by highlighting the role played by the UK (Labour) Government in respect of RBS, including the departure of Sir Fred.

Mr Salmond relied upon a comment from the present RBS boss Stephen Hester to the effect that the UK Government played a role in the arrangements covering Sir Fred's exit.

. He says ministers had thought, in October when they intervened in the bank, that the deal for Sir Fred was legally binding.

They learned last week that elements of it might have been discretionary upon the bank.

Should they not, sceptical MPs are now asking, have inquired a little more closely at the time?

Notable exasperation

We are told that both RBS and UK Financial Investments, which manages the UK Government's shareholding, are trying to claw back some of the cash from the departed chief executive.

At RBS, meanwhile, one detects a notable exasperation with the media focus upon Sir Fred. Mr Hester, understandably, wants to focus on the bank's future.

We in Scotland - and taxpayers throughout the UK - must hope that he is successful in his efforts to revive RBS.

However, sometimes the ventilation of public anger is entirely justified. This is one such case.

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