The chief executive of the Royal Bank of Scotland has said he 'cringed' when he saw copies of the chat room messages which talk of 'making free money' and 'keeping numpties out of the market'.
The Financial Conduct Authority (FCA) helpfully published a selection of the messages - just so we could all see what was going on.
McEwan is one banking chief executive who has actually faced the media music today. Of course, his bank is 80% owned by the taxpayer, so he has more responsibility than most.
But the approach is certainly in contrast to the response of others. HSBC, for example, put out a one line statement this morning after the announcement of the record fines for foreign exchange manipulation.
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