Who brought up these bankers? Where were they educated? They appear to have had no exposure to that most basic of human social ideas, Jean Jacques Rousseau's Social Contract.
When Sir Fred Goodwin has his house and car vandalised, when the American public makes death threats against those accepting AIG bonuses, the anger is because the Social Contract has been broken.
No one resents Cristiano Ronaldo his enormous salary because he gives pleasure, but everyone resents Goodwin's £700,000 pension because Goodwin has grievously harmed us. Many many people are worse off because of what he's done.
But not Goodwin. He wreaked destruction and was extravagantly rewarded for it.
When people show their resentment by vandalising his car and house, Goodwin asks the police to ensure that people behave properly.
'But you didn't behave properly, Goodwin, you broke the Social Contract,' is what the police should have said.
Left to wander through life with the Mark of Cain upon him, and every man's hand turned against him, is pretty much what Goodwin deserves.
Then, seeing this pitiful figure, other bankers might get it: that you don't deserve rewards when you create havoc.
When the Royal and Ancient golf club of St Andrews turned down Goodwin's application for membership last weekend, the R&A members showed they had internalised, whether consciously or not, the principles of Rousseau.
Somehow I had never imagined R&A members to have much time for philosophy. But they do.
Good for the R&A, I bet Goodwin is irritated. Who knows, he may even feel humiliated, particularly that this is now public knowledge. Having dined in the R&A a couple of times I know what he is missing. But more important than the club of course is the implicit condemnation of his behaviour that this represents - and by his own people. I would never condone the rather childish breaking of windows at his house, but this sanction seems terribly appropriate for a man with no shame, and much more likely to hurt.
Indeed, Ian, I would think after this he'd find it embarrassing to go in even as a guest. Though I understand the course is owned by the local council so he'll still be able to pay a green fee and have a round - if he can face the caddies.
Hi David,
May I remind you that Fred Goodwin was employed by the RBS board and it was the board's decision to allow him early retirement instead of having him sacked. The board has a clear view of the investment strategies and how the bank was run. This makes them just as guilty as Fred. I will be all too happy to see the entire RBS board be held accountable for it. A classic case of the rich gets richer and the poor gets poorer.
"Outsider" seems to have forgotten the Nuremberg judgements which refused to allow the plea of "Only following orders". Fred Goodwin was the CEO and as such responsible for setting the direction and policies to be be followed. If he were an honourable man he would have followed the example of Capt. Smith of the Titanic and gone down with the ship. Instead he chose to escape in a lifeboat hidden under the metaphorical ladies skirt provided by the craven RBS board.
The man is an absolute bounder and should be refused access to polite society at any and every opportunity.
Chris, He's damaged so many people, yet appears to have no shame
Outsider, Goodwin was the dominant character. If he said Yea, it happened. If he said nay it didn't. As the executuve head of the organisation he should take resonsibility for it.