Fred the Shred and Social Justice

There is rarely such a fine example of our economic system as Fred Goodwin — or ‘Fred the Shred’ as he was nicknamed due to his penchant for firing masses of workers.  After running the Royal Bank of Scotland into the ground, costing the taxpayer hundreds of billions of pounds, and then walking off with a multi-million pound retirement package, he has now moved into a new Edinburgh home costing £3.5 million.

While millions face unemployment, bankruptcy and eviction due to the global economic crisis that he helped set in motion, he continues to live a life of luxury without a care in the world.

Now, it would be wrong to personalise this as being all about Fred Goodwin himself; rather, this is, in microcosm, global capitalism as it currently stands.  The capitalist class makes millions during the boom and retires with further millions after the bust; meanwhile the rest of us are left to pay the bill and suffer the consequences.

Welcome to the Lab/Lib/Con ‘fairness agenda’.

We at the SSP believe that another world is possible; that those who caused the crisis should pay for it, and that the working classes shouldn’t have to sacrifice their standard of living so that another failed banker can move into a bigger house or hire a new servant.


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