The Goodwin Stack

Sir Fred Goodwin, former head of the bank that he mistook (and took and took and took) for his own piggy bank, has stepped in at the last moment to underwrite the entire cost of the new Olympic tower in London.

Commenting on his new found munificence, Sir Fred told reporters "I've made a stack from the British people, I think it's only right that I give a small stack back. I'd like it to be known as The Goodwin Stack."

In keeping with the spirit of the games, organisers accepted the offer and have suggested a bungee jump to mark the tower's official opening.

Sir Fred embraced the idea almost as enthusiastically as he welcomed his own pension. So much so that he has even volunteered to be the first to make the jump.

He added "I'd like my leap to be a metaphor for the markets. Shares can go up as well as down. But no matter what happens, they usury bounce back. Sorry, usually."

Detailed plans are already being made for the 115 metre leap with tenders invited for an elasticated rope measuring 116 metres.

The project coordinator, a certain Mr. Darling, commented "There is always an element of risk with such jumps. To minimise that risk, I ask everyone to stand well clear and you won't get splattered."

Good luck Freddie. We'll cheer you all the way.....down.