David Maddox - FMQs: Who is to blame for bankers?

There is nothing more likely to get politicians going than to find out that some industry fat cat has managed to manipulate the system to get a big pay-off. The same logic rarely applies to themselves.

So it was not surprising that FMQs today was dominated by the £650,000 a year pension for life that the former Chief executive of RBS Sir Fred Goodwin (pictured left), still just 50, has been awarded affter he led the once great bank to ruin. That would pay for more than a dozen MSPs afterall.

But in the fine tradition of finger pointing it took just a couple of questions for the blame game to start on who was responsible.

Labour leader Iain Gray suggested that it was Sir George Mathewson (pictured right), Sir Fred's predecessor, who also happens to be the "chief economic adviser" to Alex Salmond, the First Minister.

He asked Mr Salmond "which side are you on?" and went on to point out that Sir George was a supporter of short selling that had led to the collapse of some banks and bonuses.

"Iain Gray should remember that he's here to question the actions of the First Minister," countered Mr Salmond. He then went on to state that it was the UK Government in October which arranged Sir Fred's pay off, a view backed later by Lib Dem leader tavish Scott.

Only Annabel Goldie steered clear of the topic, perhaps mindful of the often made accusation that hers is the party for fat cats. Afterall who else would be willing to attend dinners to raise £530,000 for the party, like the one which was declared in yesterday's Electoral Commisions donations.

David Maddox: Economic advisors' Glasgow kiss

Today's obviously the day for Glasgow. Just been to the release of the first annual report by the Council of Economic Advisors, set up by First Minister Alex Salmond. They came up with the startling revelation that Glasgow is "underperforming" economically and that there are too many people claiming benfits there. Something needs to be done, said former RBS chief Sir George Mathewson, who chairs the council. Unfortunately, they did not quite seem to know what what could be done for Scotland's largest city beyond locally driven regeneration.
There were some interesting recommendations in their report on the wider economy, but you will have to buy a Scotsman tomorrow to find out about them.