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Sir Tom McKillop leaves Royal Bank Of Scotland

Chairman Sir Tom McKillop has left the Royal Bank Of Scotland three months early in light of the recent disastrous trading period. While Sir Fred Goodwin took the brunt of the criticism regarding the downfall of the Royal Bank Of Scotland, which is now majority owned by the taxpayer, Sir Tom McKillop has come in for his fair share of criticism over the last few days.

Behind the scenes there are concerns that the UK government has been placing pressure on various members of the Royal Bank Of Scotland board with the ultimate aim of "hanging certain members out to dry" in order to offer a clean slate for the future. Sir Tom McKillop is one of those who has been called to give evidence at the Treasury select committee investigation into the banking downturn and the reasons behind this.

While there is no doubt that there have been mistakes made in the banking sector over the last 24 months there are serious concerns that this witchhunt is quickly moving out of control. The facts are that the UK government has been in charge of regulating the sector for many years and many claim the strengthening of "self-regulation" over the last decade has been the main downfall of the sector. It is easy to forget that the UK government has regularly called upon the services of the UK banking sector to fund various projects and various strategies, PFI being a prominent figure over the years.

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