RBS: Stop the flogging
In some ways, Sir Philip Hampton's statement to Royal Bank of Scotland's shareholders later today will be a catalogue of what the bank did wrong.
He will say that its takeover in 2007 of a large part of ABN Amro, the Dutch bank, can be seen as "the wrong price, the wrong way to pay, at the wrong time and the wrong deal".
He'll say he understands why the £17m pension pot awarded to the former chief executive, Sir Fred Goodwin, is an issue of "significant political and public concern".
Sir Philip will add that it would be wrong for this beleaguered bank to retain its corporate jet. And he'll say that if he were making the decision today, Royal Bank would not choose to sponsor Formula One.
It represents a pretty comprehensive dumping on the previous directors of Royal Bank.
But in an interview for the Today Programme with me this morning - Sir Philip's first broadcast interview since becoming chairman of RBS - Sir Philip asked for an end to what he called the public flogging of the bank.
What he said was: "We've got 180,000 people and 40m customers around the world, and what we want to do is get back to serving them, and restoring the morale of our people. And the more we have the public flogging, the longer that is delayed".
In the interview, Sir Philip - who was appointed with the blessing of the Treasury - also threw a small grenade in the direction of Lord Myners, the City minister.
Lord Myners recently told MPs that he felt Sir Tom Mckillop, the former chairman of Royal Bank, had used an elaborate ruse to secure Sir Fred Goodwin's substantial pension.
However, Sir Philip told me he believed his predecessor's decision on Sir Fred's pension was "taken in good faith," and he didn't believe anyone had "behaved badly," even if it now looks extraordinary that Sir Fred was allowed to receive £700,000 a year as a pension with immediate effect.
There's other stuff of moment in Sir Philip's statement to Royal Bank's annual shareholder meeting.
He'll say, for example that Royal Bank of Scotland would have made an operating profit last year were it not for the colossal losses made by the parts of ABN that it acquired.
This is what he extrapolates from that: "I don't think there can be any doubt that the key decision that led RBS to its difficulties was the acquisition of ABN AMRO. This is the painful reality that we can now do nothing to change".
But the positive implication is that it shows the "enduring quality, strength and potential within the core businesses of RBS".