With millions of people still suffering the after-effects of the devastating financial crash 10 years on, smug Fred “The Shred” Goodwin clearly has no such worries.
The former Royal Bank of Scotland boss was pictured smirking in one of his classic cars – and he has plenty to smile about after it emerged his pension pot is worth £17million.
He has already raked in £6million since quitting in disgrace a decade ago, with a £2.8million lump sum.
But it is a very different story for the millions of ordinary households who are on average £23,400 a year worse off thanks to the crash that Goodwin and other gambling bankers caused.
And he seems to be showing little remorse over the 90,000 RBS jobs lost or the billions of pounds forked out by taxpayers to rescue his doomed bank.
His clear disregard for those left trailing in the wake of the devastating financial disaster as he enjoys a £450,000 a year pension last night sparked fury.
Robin Hood Tax campaign director David Hillman said: “Goodwin symbolises the height of unfairness.
“After driving his bank into the ground, he walked off with a golden handshake.
“No wonder he’s still grinning from ear to ear 10 years later.”
Goodwin was pictured by the Mirror behind the wheel of his £12,000 rare 1988 BMW 635CSi with the apt plate 666 – the number of the beast in the Bible.
Wearing shades, he drove off from his large house in Edinburgh’s plush Grange area.
The BMW is believed to be one of a number of classic cars he owns.
He has also been seen driving a convertible Triumph Stag to play 18-hole golf at his golf course at Archerfield in East Lothian, with fees of £30,000.
The crash happened after Wall Street giant Lehman Brothers dramatically collapsed, sending the world’s financial system into meltdown.
Britain’s big banks were plunged into chaos by the subsequent credit crunch, leading to a £130billion bailout.
RBS, which had morphed into the world’s biggest bank through a wave of questionable takeovers, was rescued from the brink of collapse the following month.
For those at the wrong end of the financial scale, the crash caused nothing but misery as the Government dipped into the public purse to save the banks.
Crippling austerity has unleashed anguish on millions of the poorest. And yet no senior banker has been jailed in the UK for the scandal.
For many, Goodwin personifies those who profited from the boom times before the crash and walked away from the mess scot-free.
During his eight years in charge, the former accountant turned RBS into the world’s biggest bank by assets, a £64billion global Goliath with 200,000 staff.
Insiders claim after he was named as Forbes’ Businessman of the Year in 2002 it instilled a “supreme arrogance” in him.
One source said he believed he could “walk on water” and added: “He was seen as some kind of banking demigod.”
Critics say Goodwin’s reign was marked by reckless lending and a series of takeovers, including NatWest and the disastrous acquisition of Dutch bank ABN Ambro in 2007.
It is claimed RBS paid over the odds and failed to carry out sufficient checks.
The bank lavished profits on luxuries such as an £18million company jet and a permanent suite at London hotel The Savoy costing £700,000 a year.
But despite the carnage left behind by the RBS, Goodwin insists he has done nothing wrong.
Author Ian Fraser said: “Despite the fact he has been ostracised by the public, he has been accepted by elements of the Scottish establishment.
“But then, Fred would expect nothing else. Perhaps the most shocking aspect of the RBS story is that he remains unrepentant and defiant.
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“He still believes he wasn’t responsible and blames others. His lack of remorse and humility has been a common trait throughout this whole affair.”
An acquaintance of Goodwin’s disagreed, insisting: “He felt deeply wounded by what people said.”
In 2012, Goodwin was stripped of his knighthood, which had been handed to him by Tony Blair.
He was also reportedly turfed out of the family home by wife Joyce after she discovered he was having an affair with a colleague. The couple, who have two children, divorced in 2016.
The Financial Services Authority, cleared Goodwin of any wrongdoing over the collapse of RBS.
But he is being sued for up to £3billion by Taiwanese shipping magnate Nobu Su, the billionaire chairman of Today Makes Tomorrow.
He accuses Goodwin, along with two former colleagues and the bank, of “hijacking” TMT’s accounts and using them as “unlimited cash machines”.
It is believed to be one of the biggest lawsuits ever against a UK individual.
As Goodwin continues his high life today, Shadow Chancellor John McDonnell is due to address a rally organised by the coalition 10 Years On outside the Bank of England.
He will say: “One of the key lessons to be learnt from the crash is that never again must we allow finance to become the master of the economy, rather than its servant.”
A campaigning pensioner is fighting for thousands of people who lost money in the fall of Northern Rock.
Dennis Grainger, 72, said the Government is making £9.6billion profit on the £37billion used to bail out the Newcastle-based bank.
But he added: “They are saying that is going to keep the profits to offset the losses they made on RBS and other banks.”
Crash fatcats who went on to get fatter
Under him Northern Rock was transformed from a sleepy Newcastle building society into the UK’s fifth biggest mortgage lender.
But risky policies, including 125% Together mortgages, were its undoing. Fears for its future led to customers queueing outside branches to get their money out.
Applegarth, paid £10million in the five years before it collapsed, sauntered away with a £760,000 pay-off.
In 2009, he began advising US private equity firm Apollo Management. He owns a £2.5million pile on the edge of a golf course near Newcastle.
A one-time star of British business who came top in his class at Harvard.
Ran HBOS when it was rescued by Lloyds. Has successfully moved on from the crisis, but stayed in the background.
Became chief executive of privately-owned Alliance Boots, but quit in 2011
with a pay-off.
Then made chief executive of bookmaker Coral, which was taken over by Ladbrokes.
Now holds a senior job at GVC, which bought
Daniels was running Lloyds Bank when it took over HBOS, a disaster of a move that led to Lloyds needing to be bailed out by the taxpayer.
The American left in 2011 with a £5million pension pot.
Lloyds later withheld a shares bonus he was due but he took the firm to court and won earlier this year, resulting in him getting another £1.3million.
A new ‘uglier’ crisis is around the corner
Analysis by Richard Murphy , Professor of Practice in International Political Economy at City, University of London
ON September 15, 2008, the US investment bank Lehman Brothers collapsed and the global financial crisis began.
Ten years later, that situation has not really ended. Worse, many economists — me included — think a new crisis may be around the corner.
So what happened, why, and what might happen next time?
Lehman crashed because it had run out of money. Within weeks, the crisis had spread.
In October 2008, then Chancellor Alistair Darling was told Royal Bank of Scotland was just hours away from also running out of cash.
And RBS going down was not an option.
Lehman Brothers was not a high street bank, RBS was. So too were Lloyds, HBOS and Bradford & Bingley. All were heading the same way as Northern Rock, which had collapsed a year earlier.
Mr Darling could let the banks fail — as the US had let Lehman Brothers fail — or bail them out. But the truth was that he had no choice.
If RBS went down, millions of people in the UK would have had no access to money.
And that might also have been true of hundreds of thousands of businesses. If a bank like RBS failed, it was likely others would go down.
On average most British households have no more than three days food in stock.
People and supermarkets without banks would have meant panic and food riots.
So Mr Darling bailed out the banks, as any responsible Chancellor would have done.
But most of us have been paying for that ever since. Between 1998 and March 2008, the Government borrowed £186billion to keep the economy going.
From April 2008 to March 2018, the Government borrowed £990billion.
The difference is, roughly, £25,000 a household.
You paid through austerity.
Only two groups were protected. One was pensioners. And I cannot argue with that. The other group was bankers.
And that was just wrong.
Bankers benefited through quantitative easing, jargon for the Government buying back its own debt.
And almost all the benefit of that has gone to bankers who have used that money to push up house prices, share prices, and maybe even commodity prices in which they trade.
The result has been most banks have recovered to be seriously profitable again — and for bankers, unlike almost everyone else, the pay rises and bonuses have flowed.
And that is despite — let’s be absolutely clear about this — the bankers caused the crash.
They did this by reckless lending, mainly for mortgages that often exceeded the value of the houses they were funding to buy. It overheated the economy and the bubble the bankers created burst.
Yet they seem to have learned nothing. Right now, there is as much lending to the UK public compared to our income as there was in 2008.
The result is we are almost certainly heading for another crash. But this time, the Government cannot slash interest rates. So, this crash might be uglier.
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