Alistair Darling, the UK's Chancellor of the Exchequer, lambasted the former shareholders of Britain's failed and government-rescued banks for what he called their failure to exercise their responsibilities as owners.

Citing Royal Bank of Scotland Group and HBOS, he said: "Their shareholders clearly didn't ask the right questions. They didn't take their stewardship seriously," and that, "There are huge questions to be asked about the role of the shareholders in these businesses."