Darling to tell banks and regulators 'no excuses' - papers

The Chancellor will warn that national regulators also need to keep their own house in order rather than look to new European Union and worldwide watchdogs to monitor their behaviour. Mr Darling will say: "I strongly believe that the process of learning lessons has to start in the Boardroom. Bank boards must have the right people, skills and experience to manage themselves effectively. "Their focus must be long-term wealth creation, not short-term profits." Many Labour MPs believe Mr Darling has proved an understated, steadying hand during the financial and banking crisis. Full story...