Regarding the £703,000 retirement payment awarded to Fred in addition to Fred's £4 million pound salary, Tom wrote: "I must emphasise that there was no 'elaborate ruse' by myself and Mr Scott to give Sir Fred any more than he was contractually entitled to and that we and, I believe, all the directors acted in what we judged to be the best interests of the shareholders, including the government."
The shareholders were awarded £200 million in compensation for their £12 billion loss.
Farrell, Sean (11 February 2009). "Treasury Select Committee: Bonfire of the bankers – Business Analysis & Features, Business". The Independent. London. Retrieved 3 April 2009.
