The man knighted in 2004 for his “services to banking” is clearly not as clever as some people thought he was, so does Sir Fred Goodwin - sorry, make that Mr Goodwin - deserve to have achieved a degree or chartered accountant qualifications on his CV?

Heck, given that he failed to keep Royal Bank of Scotland’s head above water, leaving it to be rescued by the taxpayer, if he has a swimming certificate perhaps he should have that removed too.

Earlier this week, Mr Goodwin (the loss of the glitzy honourific will be a blow to his attempt to get a top table at a restaurant) joined Cambridge spy Anthony Blunt, Romania’s former dictator Nicolae Ceausescu and Zimbabwe’s Robert Mugabe in losing his title.

It was decided he had brought the honours system into disrepute.

Really? I would argue he has brought the honours system into no more disrepute that those poor youngsters who get an A* at GCSE only be told their qualification isn’t really as top drawer as it once was.

Those who have brought the academic qualifications and honours system of this country to be seen as a shoddy shadow of their former selves are those who have handed out these titles and grades without making sure those who got them were the cream of the crop.

Perhaps Gordon Brown and Tony Blair should no longer be allowed to use the title prime minister?

After all, they were the men in charge of the country while bankers were allowed to high stake gamble with savers cash.