The FT's article on the report on the failure of the Royal Bank of Scotland is pretty damning/depressing/encouraging reading. Their link/commentary on the report itself nails it though:
"Why has no one taken responsibility for a failure that has cost British taxpayers billions?"
Other quotes make for more good evidence that FT is the paper to read on financial matters, not some City-suck-up rag with its own interests at heart:
"The report’s language has also been repeatedly watered down after the individuals involved fought a tough battle to remove some of the most inflammatory comments"
"The closure of the [previous] investigation triggered a storm of public and political outrage as the FSA was forced to admit that no comprehensive summary had been prepared, with work scattered across a collection of desks, files and notes stuck to the computer screens of its staff."