WE'LL BE HAPPY TO TAKE THE PAY, BUT NOT THE RESPONSIBILITY

So I'm sure that since they have both admitted their incompetence they will be returning the salaries and bonuses they were paid. After all, how can they justify them?

Charles Prince and Robert Rubin, who led Citigroup in the run-up to the 2008 banking crisis, voiced regrets on Thursday, but accepted no responsibility for the mega-bank's massive losses.

The two came under heavy fire in a congressional panel hearing for being blind to Citi taking on huge financial risks under their watch, leading ultimately to the bank's near collapse, prevented only by a $45-billion (29 billion pound) taxpayer bailout.

His hands visibly shaking as he answered questions, Rubin, formerly U.S. Treasury secretary during the Clinton administration, told panel members that he was not a key decision-maker at Citi during the worst of its troubles.

Former CEO Prince came to the defence of Rubin, saying that as an advisor he was not responsible for Citi's losses. Prince offered up multiple apologies for his own ignorance.

"I can only say that I am deeply sorry that our management -- starting with me -- was not more prescient and that we did not foresee what lay before us," Prince said.
Yahoo