Sir James Crosby, the former boss of HBOS, has asked for 30% of his knighthood – awarded in 2006 – to be revoked after a scathing report by MPs found that he sowed the “seeds of destruction” of one of Britain’s biggest banks.
Crosby, who was chief executive of HBOS shortly before the government had to pump in £20.5bn to prevent its collapse in 2008, said he was “deeply sorry” for his role in HBOS’s failure and asked for the letter ‘r’ to be removed from his title ‘Sir’.
However, in a statement to the press, Crosby explained why he would not also be giving up his £580,000-a-year pension after last week’s report into the bank’s collapse:
Give up my pension? No chance! I’m not f**king daft you know?
OK – James Crosby has actually asked to have his title revoked and is giving up 30% of his pension. But it would be good to see more top bankers accept responsibility for their actions, wouldn’t it?
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