Mr McColl, who has an OBE, said Mr Goodwin was being "scapegoated" and "demonised", and pointed the finger of blame at the Treasury, Bank of England, and Financial Services Authority, declaring the underlying regulatory system had been wrong.
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Goodwin treatment 'appalling'
JIM McColl, one of Scotland's most successful businessmen, said yesterday it was "appalling" Fred Goodwin had been stripped of his knighthood over his management of Royal Bank of Scotland.
