Given that the honour was awarded in recognition of his services to banking, it would have been indefensible to allow him to retain the title in the aftermath of his bank's catastrophic meltdown.
Critics complain the move was little more than a surrender to populism and it is true that it serves no more than a symbolic purpose. But symbols can be important and it is a foolish politician who ignores popular opinion.
Time to look again at honours system
IT was the right decision to strip Fred Goodwin of his knighthood.
Given that the honour was awarded in recognition of his services to banking, it would have been indefensible to allow him to retain the title in the aftermath of his bank's catastrophic meltdown.
Critics complain the move was little more than a surrender to populism and it is true that it serves no more than a symbolic purpose. But symbols can be important and it is a foolish politician who ignores popular opinion.
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Don't show me this again.