Fred Goodwin has joined the likes of Robert Mugabe and Nicolae Ceausescu in a small gang of disgraced people who have been stripped of their knighthoods.

The Queen made the decision on the advice of Whitehall officials.

The former RBS Chief Executive lost his honour 'for services to banking' despite not having been convicted of any criminal offence nor having being professionally censured.

Scotland Tonight discussed it with STv's Westminster Correspondent Harry Smith and with political and business commentator Alf Young and financial journalist Ian Fraser who has made several documentaries about RBS and Fred Goodwin.