"The leadership had lost connection with the real world"
Coincidence? This article was published yesterday...
In August 2008 Gary Hoffman walked into the offices of Northern Rock in Newcastle.
He had been appointed chief executive of the mortgage lender which had been taken over by the government earlier in the year after almost collapsing.
One of his first impressions was the "palatial" offices and the even more luxurious headquarters that were under construction.
"The leadership had lost connection with the real world," Mr Hoffman says.
"They were in large offices, separate from their colleagues. It was physically difficult for their colleagues to speak to them."