Terry Smith: Should Greenspan be next to lose knighthood?

Fundsmith founder Terry Smith has criticised the ‘extreme' move by the UK's honours committee to strip former RBS boss Fred Goodwin of his knighthood.

Smith suggested that, following the logic which saw the pilloried banker lose his title, former Federal Reserve chairman Alan Greenspan should also be stripped of his honours. In a letter to the Financial Times, Smith said Goodwin could not be held solely responsible for the failure of RBS, which is now 84% owned by the taxpayer. “For Fred Goodwin to follow in the footsteps of traitors, dictators and fraudsters in being stripped of his knighthood seems extreme,” Smith said. “He did not make the decisions that produced such a disastrous outcome for the Royal Bank of Scotland alone. ...