Banking system 'failed at all levels'

Link to the article: Channel 4 News

A Parliamentary report concludes that bank chiefs were to blame for the economic crisis, but are they letting government and the regulators off the hook?

The number of companies going into administration or liquidation has risen by more than 50 per cent in the first quarter of the year.

The figures, released this morning by the Insolvency Service, came as the Commons' treasury committee launched a report accusing banks of failing to lend enough money to help struggling firms through the recession.

The committee said that Britain had suffered "a comprehensive failure of the banking system at all levels".