Senior Management, ultimately, do have to take responsibility; that I fully accept. The Political Venom in the UK is such that it really leaves a bad taste in your mouth. Two relevant points I have read/thought in the last day: -

a) Sanford Weill on CNBC basically saying that Glass Steagall needs to be reimposed and that Universal Banks should be broken up. Back to Retail and Investment seperation.

b) The old Hong Kong chestnut. Politically loaded Banker-Bashing in the UK really seems to be getting to the point were HSBC must be asking itself why are they bothering to be domiciled in London? 1 Queens Road, Central would be a far far better place than Canary Wharf. Can you imagine the almost immediate uplift in the SP?