I never intended my comments to refer to the tens of thousands of hard-working retail bank employees. I honestly thought that would have been understood. Sorry if I inadvertently gave any offence, none was intended.
I share the reservations of Saint Billinge about the demutualisation of the Building Societies. It blurred the traditional boundaries that people of my generation were used to. I am sure some financial expert can argue that it was a big improvement on what went before. I am sure I shall remain unconvinced by such argument.
Finally, it seems that there is honour among the HBOS execs. One of them has asked for his knighthood to be withdrawn. I've blasted them on here for failing to accept responsibility for the consequences of their actions, so it's only fair I offer my congratulations to James Crosby for doing so now.
It isn't honour, it is shame.
If it was honour, he would have handed the undeserved gong back at the time he almost collapsed the bank he was running, not wait until his behaviour was exposed and his name blackened by the official investigation. That's a bit like admitting you're guilty but only after the jury has delivered its verdict. And he's only forgoing 30% of his £580,000 a year (a year!!) pension from HBOS so he's not exactly going to be living in hardship, unlike many of those who have been left to pay for his spectacular management failures.