James Crosby, former boss of British bank HBOS, became the first person in nearly a century to voluntarily give up a knighthood – an act of repentance after being denounced by parliament for the “colossal failure” of judgment which led to the bank’s collapse. The last person to renounce the honour was Indian poet Rabindranath Tagore in 1919, in protest against British brutality in the wake of the Amritsar massacre.
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