I think virtually everyone, with the presumed exception of Sir Fred himself, is agreed that he should be stripped of his knighthood what though is a little sad is that now this process is carried out by some dull and boring committee. Not so in days of old. In 1621 two knights (businessmen coincidentally) were found guilty of exercising harsh monopolies over the licensing of inns and suffered the punishment of being publicly degraded.
'Sir Francis Mitchells sword and gilt spurs, being ornaments of knighthood were broken and defaced.......one of the Knight Marshals men...cut the belt whereby the culprits sword hung, so let it fall to the ground. Next the spurs were hewn off his heels and thrown, one one way the other the other. After that the Marshaks attendant drew Mitchell's sword from his scabbard and broke it over his head...' Great stuff and done in Westminster Hall it would be standing room only with tickets probably changing hands for well over a hundred pounds.