Editorial: At last, in HBOS's Sir James Crosby we see a banker who takes some responsibility

Sorry seems to be the hardest word, so let's applaud Sir James Crosby for doing the right thing - even if it did take a while

It would be churlish to suggest that Sir James Crosby needed quite a push. After all, the former HBOS executive has now not only reiterated his apology for bringing the bank (and, almost, the economy) to its knees; he is also to give up nearly a third of his £500,000-plus pension and to request the removal of his knighthood.

Full marks, Sir James. Never mind that it took last week’s damning conclusions from the parliamentary Commission on Banking Standards, which identified him as the “architect” of the strategy that led to HBOS needing a £21bn bailout and a forced merger with Lloyds. Sir James has now done the right thing – and for that he is to be applauded. All that remains is to hope that others follow where he has led. Similarly active contrition from Andy Hornby and Lord Stevenson – the two other former HBOS executives fingered by the commission – would be a good start.