Ex-PM blasts behaviour of Goodwin
Brown calls for jail terms for rogue bankers
Gordon Brown: told his wife he would have to resign if rescue plan failed
Former Prime Minister Gordon Brown has called for rogue bankers who jeopardise the financial system to be jailed.
He also warns of a repeat of the 2008 crash, claiming nothing much has changed as the lessons have not been learned.
Mr Brown says there should have been firmer action against the bankers who caused the crisis.
“If bankers’ conduct was dishonest by the ordinary standards of what is reasonable and honest, should there not have been prosecutions in the UK as we have seen in Ireland, Iceland, Spain and Portugal?” he writes in his new memoirs.
He says former RBS chief executive Fred Goodwin “walked away with all of his past bonuses untouched” after the collapse of the bank and had shown no remorse for what happened.
He claimed millions of pounds were wasted by RBS which had a £200 million annual sponsorship budget and lavished payments on sports stars to act as “global ambassadors”.
In the memoirs, My Life, Our Times, Mr Brown writes: “At no point did I ever hear Fred Goodwin express real contrition to me – or to anyone else – for his role in the bank’s collapse”.
He reflects on the impact of the crash on his personal ambitions saying he told his wife Sarah he would have to quit if his rescue plan failed.
“I told Sarah that she would have to be ready to pack our things for a sudden move out of Downing Street.
“If what I was about to do failed, with markets collapsing further and confidence ebbing from Britain, I would have no choice but to resign.”