Former HBOS chiefs blamed for £20bn bank collapse

Three former bosses of HBOS were blamed today for the collapse of one of Britain's biggest banks at a cost to the taxpayer of a staggering £20 billion.

A damning Parliamentary report said the downfall of HBOS was caused by the "toxic misjudgments" of Sir James Crosby, Lord Stevenson and Andy Hornby.

ITV News' Business Editor Richard Edgar reports:

Read Richard Edgar's blog here.

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HBOS trio could face City bans

Three former HBOS directors blamed for the banking group's collapse in a damning report may be banned for life as company directors. Business Secretary Vince Cable has ordered a probe to see if enough evidence can disqualify the trio.