The man formally known as Sir Fred Goodwin has been back in the news again this week after his knighthood was withdrawn. The former Chief Executive of the British-government-owned Royal Bank of Scotland is now just Fred Goodwin again. But the move caused some controversy especially within the banking and political establishment.

Prime Minister David Cameron welcomed the move but others said that Goodwin was just a scapegoat. The former RBS boss has seen his house vandalised, he has been vilified in the media and now his knighthood has been removed. His supporters say that his only crime is bad management while his critics claim that he ruined the banking system in Britain.