The Times: RBS and HBOS executives to apologise for collapse of banks

"The bankers who led Royal Bank of Scotland and HBOS to the brink of collapse will offer a public apology today.
But amid the furore over bankers’ bonuses, they will also seek to point out that they have personally been “punished for failure”, losing millions of pounds because of the meltdown in their banks’ share prices."........its ok to give bonus payouts then...
"It is understood that Mr Hornby, who continued to work as an adviser to HBOS on a retainer of £60,000 a month after his resignation late last year, has seen the value of his HBOS shares fall from more than £10 million to less than £500,000. Similarly, Sir Fred is understood to have spent his 2007 £2.8 million bonus on RBS shares, which have since lost more than 90 per cent of their value.".........poor thing....