Rewarding failure

Ed Miliband thinks that "it right Fred Goodwin has lost his knighthood". I can see his point.

He thinks that "it is only the start of the change we need to see". I agree with that too.

I have already suggested that Sir Callum McCarthy should be next. He let the banks run wild as boss of the FSA. He should pay the price of failure, not be allowed to get away with his crimes.

I have already argued that Labour should set an example by giving up their unearned bonuses that they received on leaving office. They too should not be rewarded for failure.

Here is another example of rewarding failure.



John Prescott was made "Baron Prescott, of Kingston upon Hull in the County of East Yorkshire" in July 2010 after serving as Labour party deputy leader and Deputy Prime Minister.

John Prescott was responsible for building 9 purpose-built regional fire control centres to replace the 46 Fire and Rescue Service's local control rooms across England. They were to be linked by a new IT system.



The only problem: they didn't work and the IT system was never delivered.

The Department for Communities and Local Government (DCLG) acted to cut its losses by ending the contract in December 2010, seven years after it had begun, but at least £469 million will have been wasted, with eight of the nine new regional control centres remaining empty and costly to maintain. Some estimates put the final cost at over £650 million.



I would call that a disgraceful waste of tax payer money.

I would call that a failure.

I would call that a massive failure.

Giving John Prescott a peerage was rewarding that failure. It is only fair that in this new age of responsibly that he should give up that peerage.

Ed Miliband says "this should not be about individuals, it is about taking the right steps now to create a more responsible capitalism". I think he needs to add "and a more responsible government" at the end of the sentence.

I think that John Prescott should be defrocked. I am pretty sure that Ed Miliband agrees with me.