Nick Clegg speaks to Nel Hedayat
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Clegg: Banks "a source of embarrassment and shame"

2 July 2012 Last updated at 14:38 BST

Deputy Prime Minister Nick Clegg tells CBBC Newsround that Britain's banks have become "a source of embarrassment and shame" and must take responsibility for their actions.

He says: "People at the top of these big banks who earnt lots of money, they had these big fat bonuses when things went well.

"They have also got to take the rough with the smooth, they have also got to be responsible when things go wrong on their watch."

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