Link: http://www.wsws.org/articles/2012/feb2012/good-f06.shtml

The decision by the UK's Honours Forfeiture Committee to strip former Royal Bank of Scotland chief Fred Goodwin of his knighthood has led to howls of outrage from the corporate and political elite.Goodwin was awarded the knighthood in 2004 for his services to banking. The financial crisis revealed that Goodwin’s achievements were built on sand. With a loss of £24.1 billion, RBS was rescued from collapse with £45 billion of public funds, its debts nationalised— dumped onto tax payers.Goodwin walked away in 2009 with a £2.8 million tax-free pension .The former banker joins Soviet spy Anthony Blunt and Zimbabwe’s President Robert Mugabe in having his knighthood annulled.