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We’re so sorry, say bankers

Bank bosses lined up on Tuesday to apologise for their role in the economic turmoil.

Former RBS chief executive Sir Fred Goodwin and former chairman Sir Tom McKillop were grilled alongside former HBOS chief executive Andy Hornby and former chairman Lord Stevenson.

Stevenson said: “We are profoundly and unreservedly sorry at the turn of the events. We are also sorry about the effects it has had on the communities that we serve.”

Hornby said: “I am very sorry for the turn of events that led us here.”

McKillop said: “We are particularly concerned about the anxieties caused on the part of shareholders, staff and indeed customers. I make a full apol- ogy both personally and on the part of the RBS board.”

Goodwin said: “I profoun- dly apologise in full for all the pain and distress that has been caused. This has affected everyone.”

McKillop admitted RBS’s purchase of ABN Amro was a “bad mistake” which contributed heavily to the bank’s problems.

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