Fred Goodwin stripped of knighthood -the danger now is tokenism

I'm worried that a scapegoating dynamic will end up distracting us. As David Fleming of Unite said:

this will do nothing to bring job security to the staff across the banking sector who continue to work under a culture of excess and greed at the top. Action from the government is needed in banking reform, not simply empty rhetoric on knighthoods or shareholder activism

What we need to recall, furthermore, is that a big part of the problem was -and is- that our governments don't do something about the 'too big to fail' issue in banking. Scapegoating one guy who was taking advantage of it, admittedly, is scarcely going to allow our money to sleep easily in its mainframes.

Fred Goodwin stripped of knighthood | Business | The Guardian