Grasp and shred

Interesting, detailed profile of Fred Goodwin in the FT concludes:

The source of the global banking crisis, which has humbled many of the world’s largest financial institutions, lies far beyond any one person. Yet his aggressive pursuit of growth meant that, when the crunch came, RBS had further to fall. “He was trying to do everyone else’s job” is how one former colleague sums up Sir Fred’s career. “But he wasn’t doing his own job.”

But it doesn't mention his eye-popping retirement package.

Brad de Long on the The Economics of Thugs with Spears Who Take Your Stuff