We've changed the entire regulatory system.
We've swept away the failed system that Gordon Brown had put in place.
A new regulatory system is now there and is now working and will make sure that these things can't happen again.
A former boss of state-owned bank HBOS has said he will hand back his knighthood and almost a third of his pension after damning criticism.
A parliamentary report published today catalogues the foolish ambition which led to the collapse of the Bank of Scotland and Halifax.