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"We will do our best to see if the taxpayers' money can be returned, but the bank was in a terrible mess”

Business quote of the day.

New Statesman
Photograph: Getty Images

"We will do our best to see if the taxpayers' money can be returned, but the bank was in a terrible mess”

Sir Philip Hampton, chairman of RBS, tells ITV's Daybreak he did not know if taxpayers would ever get back the money used to rescue the bank. RBS reported losses of £5.2bn this morning.