Royal Bank of Scotland Failure

link here to article

Sir Fred Goodwin filed an injunction to prevent publication of his illicit affair with a subordinate during his tenure at RBS. This has been all over the tabloids but the important story is about his narcissistic leadership and the failure of corporate governance at RBS during his tenure. Shareholder's lost 90% of their equity, and he helped to bring down the economy in the UK. To make matters worse, he walked away with a huge pension, granted by a compliant board, to compensate him for the decline in value of his stock options. Although this is about Sir Fred Goodwin and the failure of RBS, it is a story that seems rather common. Wall Street and the RBS look pretty similar. So does the compliance of the corporate board and the government.