Failed bank bosses face televised investigation

Failed bank bosses face televised investigation


Today, the former heads of RBS and HBOS will be grilled by MPs on live television over the mistakes that led the two banks to seek a Government bailout late last year. 

Sir Fred Goodwin, the former chief of the Royal Bank of Scotland, and Andy Hornby of Halifax Bank of Scotland will be amongst those being questioned by the Treasury Select Committee.


Following the Government rescue package in October, RBS is now 68% owned by the taxpayer, whilst HBOS is 40% owned by the Government.


Whereas last week financial journalists were in the hot seat over their role in the economic downturn, today bankers will have to face tough questions about the City bonus culture and years of reckless lending behaviour.


The two will appear before the select committee just before 10am, with many speculating that they won’t be given an easy ride by ministers looking to pinpoint the blame for the current economic conditions on the so-called “fat cats” of the banking industry.

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