UK Bankers Say Sorry World. Don't Blame us - it was the Bonuses

[TheBigotBasher]

The former bosses of the two biggest UK casualties of the banking crisis have apologised "profoundly and unreservedly" for their banks' failure.

Former Royal Bank of Scotland chief executive Sir Fred Goodwin told MPs on the Treasury Committee he "could not be more sorry" for what had happened.

The former bank chiefs also said the bonus culture had contributed to the crisis and needed to be reviewed.

But Sir Fred said if bankers felt they were not paid enough, they would leave.

Sir Tom McKillop, former RBS chairman, also admitted that his bank's much-criticised purchase of Dutch rival ABN Amro had been a "big mistake".

Personal gain

The former bosses, along with other bankers, have been criticised for taking huge bonuses from banks that later had to rely on taxpayer money to survive.

The MPs began by asking the former bosses about the bonuses they received in 2008.

Sir Fred Goodwin said he had taken no bonus that year, but that he had taken home a salary of £1.46m

http://news.bbc.co.uk/1/low/business/7880292.stm


Give back the money then. The World is hurting because of what you did.