The cost of saving Northern Rock could cost the tax payer £2billion, according to a report from the Commons Public Accounts Committee.
The Newcastle-based bank got into difficulties in 2007 when it became the first bank in 150 years to suffer a run during the then financial crisis.
Margaret Hodge, the committee's chair, has said the then Labour government took too long before deciding to nationalise the bank in February 2008.
More top news
Brisk winds. Rain for Monday and Thursday. Sunshine & showers for Tuesday and Wednesday. Colder feel with showers wintry over hills
A major concert at the Sage Gateshead had to be suspended before the end last night after three performers were taken ill.
The manager of North Shields FC says they "haven't won anything yet", despite the team securing a place at Wembley in the FA Vase Final.