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I'm watching Lord Myners, the Financial Services minister talking about the 703 thousand pound pension awarded to former RBS boss Sir Fred Goodwin.

MPs on the committee are trying to get him to admit that he made mistakes in the way that he handled the negotiations and that he should have known such a vast sum was being lined up to drop into Sir Fred's pockets.

Lord Myners is insisting he's done nothing wrong. In fact he has just said if he had his time again, he would have acted in the same way.

Fascinating stuff. I need to put my headphones back on and continue listening....

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