James Crosby, former boss of failed British bank HBOS, has offered to give up his knighthood and nearly a third of his pension after being denounced by lawmakers for the “colossal failure” that led to his bank’s collapse.
Crosby, whose bank had to be bailed out by taxpayers in 2008, effectively volunteered for the same punishment as that visited on Fred Goodwin, former head of Royal Bank of Scotland , the other large Scottish bank bailed out after the 2008 financial crisis. Goodwin’s knighthood was stripped last year and he gave up part of his pension in 2009.
via Business feed http://www.scmp.com/business/banking-finance/article/1211336/ex-hbos-chief-crosby-asks-be-stripped-knighthood
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