The parliamentary commission claimed that he was the 'architect of the strategy that set the course for disaster' in his handling of the bank.

The parliamentary commission on banking standards discussed the issue when it published its final report last year, but shied away from calling for an investigation by the competition authority.

Parliament had the selfconfidence to entrust the parliamentary commission on banking standards to investigate a major public scandal, the first such inquiry for a century.

A parliamentary commission criticised the scheme saying the idea that a few weeks of military instruction would develop a sense of national belonging was 'illusory'.

The parliamentary commission made some very sensible suggestions on areas of banking, such as the accountability of senior executives, professional standards and competition.