<p><br /> Bob Diamond, the new boss of Barclays, has told MPs that banks should stop apologising for their mistakes during the financial crisis.<br /> </p><p><br /> In the heated exchange with the Treasury Select Committee, the US-born banker - who is one of Britain's highest paid executives - defended the universal banking model. During questioning he adopted a defiant tone, saying banks need to take responsibility for bad management and should be allowed to fail.<br /> </p><p><br /> "No bank should be a burden on the taxpayer - we have to make the system safer," he said.<br /> </p><p><br /> "There was a period of remorse and apology for banks and I think that period needs to be over. We need our banks willing to take risks ... so we can create jobs."<br /> </p><p><br /> Diamond earned £21 million in 2007 but has waived his bonus for the last two years.<br /> </p><p><br /> When the 12 parliamentarians from the Committee asked whether he would forgo his own bonus, Diamond responded by telling them he would decide "with his family" whether he would accept.<br /> </p><p><br /> Regarding his employees, he said that Barclays had "no intention of paying more in bonuses than is necessary."<br /> </p>
