Minister blasted over RBS pension

City minister Lord Myners has been criticised by MPs for "naivete" in his handling of ex-Royal Bank of Scotland boss Sir Fred Goodwin's pension.

Lord Myners should have given RBS a "clearer, stronger direction" that failure was not to be rewarded, the Treasury Committee report said.

It also blamed bonus cultures at City banks for the financial crisis. Business reporter John Moylan reports.