The world's worst banker

And the winner is.........

.....Fred "the Shred" Goodwin, the former head of our very own state owned bank - the RBS. Newsweek annointed him the very worst of a very bad bunch.

Fred, you aren't going to take this insult lying down? Get on the phone, Man. Contact your Lawyer. Issue an injunction. Promise to see these lying journos down at the high court. I love a good libel trial.

Anyway, here is how Newswork announced their choice for the World's Worst Banker.....

"In the past couple of years, the entire global lending industry has covered itself in shame. Virtually every banker was suckered by the credit and housing bubble. But who made the sorriest choices? Who forced shareholders and the public to bear the highest financial cost? Who, in short, is the Worst Banker in the World?

There's no dearth of candidates. Richard Fuld of Lehman Bros. and James Cayne of Bear Stearns presided over the remarkably disruptive failures of their respective firms. But Bear and Lehman weren't banks, properly speaking: They were hedge funds lashed to investment banks. And their demises didn't require much of a public bailout. The failures of AIG, Fannie Mae, and Freddie Mac necessitated massive bailouts, but they weren't exactly banks, either. Iceland's bankers have effectively brought their entire country to ruin. But since Iceland's population is a mere 300,000, they're off the hook. In an interview Monday, Nobel laureate Paul Krugman nominated the gang that ran Citigroup into the ground. But Citi was so big it took three CEOs—Sandy Weill, Chuck Prince, and Vikram Pandit—to bring it to the brink of disaster.

No, my nominee is someone whose name may not be familiar to American audiences. He's Fred Goodwin, who until October served as CEO of the Royal Bank of Scotland. "