BANK executives, according to the Nyberg report, were "totally unprepared" for the property crash and funding problems. Could these possibly be the same executives who were paid multi-millions for their financial expertise, understanding and grasp of the global economy?
Mr Nyberg tells us these people did not realise that loans were essentially risky assets and bank boards were not "unduly concerned" about lax lending practices.
What were these executives being paid to do? Their incompetence beggars belief and, even worse, we are left with the results of their gross mismanagement with no one to blame.
The public is left gasping in disbelief that these so-called experts were paid handsomely for their financial skills, messed up and cannot be help responsible.
We absolutely have to learn from this sorry mess and make sure this scandalous behaviour is never tolerated or paid for again.