Prime Minister David Cameron has said that he will not seek to intervene to strip the knighthood of Sir James Crosby, former chief executive at HBOS. The Prime Minister's spokesman said that "it is a matter for an independent committee".
Our banking reporter Tim Wallace on Vince Cable's calls for former HBOS bosses to face punishment:
VINCE Cable is pushing for failed bank HBOS’ former directors to be banned from heading firms under laws governing company bosses, the business secretary revealed yesterday.
“The Business Secretary has instructed officials at the Insolvency Service to look into the FCA report when it is published to see whether there are matters that could lead to further action,” said a spokesperson.