An amazing revelation?

Writing in the Financial Times, Matthew Engel reports noticing an astonishing gaffe by one of the bankers being interviewed by MPs about the Credit Crunch.

Two revelations stood out. One was a phrase that came out in mid-waffle from Lord Stevenson, who startlingly referred to “the balance between the sales culture on the one hand, and caution and integrity on the other”, thus suggesting an organisation so dysfunctional that these were incompatible.

Just how much integrity was the bank willing to sell for each pound of Sales?