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Gordon Brown

Headline:

PM Blasts 'Inexcusable Behaviour'

Synopsis:

With the banking crisis deepening, the Prime Minister has told Sky News the behaviour of some of the financial institutions involved has been inexcusable.

Gordon Brown agreed to talk to a panel of Sky News experts just after Britain's biggest lender HBOS was taken over by Lloyds TSB.

He said: "We cannot excuse the irresponsibility that took place in a number of institutions. It's got to be cleaned up and its got to be cleaned up quickly."

Pressed by the Daily Telegraph's Editor at Large Jeff Randall on whether he had failed to regulate the markets, Mr Brown said "tough steps" had been taken.

But he insisted: "Most of the problems we're dealing with are... coming out of America".