Focus on a regional bank first

I would argue that it would be better to start a completely new regionally based state bank supported by the Treasury and the Bank of England, with the specific brief of supporting small and medium-sized businesses.

This could be controlled locally by regional boards including representatives from local government, trade unions and business.

This would be an immediate success as it would bypass the corrupted existing banking system with its inflated overheads of bonuses and exaggerated view of its own worth.

It would also have the virtue of not having to change the corporate culture of "arrogance, ignorance and greed" at the existing bank and lets RBS unravel without placing too great a burden on the taxpayer.

Our current position at the bank is a loss-making one of between £8-12 billion, according to Credit Suisse - cash that could be better used elsewhere.

Further, so far no serious banking reform has been implemented and I would agrue against taking complete ownership of a bank when its true liabilities are unknown given its tendency to inflate assets.

Finally, at present no-one has been charged, let alone convicted, of the fraud that was the fixing of Libor.

Until the crooks who perpetrated this monstrous fraud are bought to book and the bigger crooks who covered it up are cleared out, we would be taking on a totally corrupt culture.

Currently as shareholders our liability is limited and I would just let this bankrupt bank slowly close down its operations at the smallest possible cost to the nation's economy.

Nick Matthews

Rugby