A very mournful looking Andy Hornby, former chief executive of HBOS, said “sorry” before a Treasury Committee. He moved from ASDA to lead the Bank in 1999, and in 2008 aged 42, resigned on a salary with bonuses of £1.93 million.

He, along with many other senior bankers across the world, has been cast in the role of penitent: sinners called to repentance for causing all our financial woes, for being greedy and profligate with our money. It is like an extended Lenten exercise of examination.

The spectacle of politicians, clerics and journalists falling over themselves to point the finger of blame at the bankers is not altogether edifying. The bankers may be at the top of the pile, but no-one was complaining when shares were high, assets increasing in value, credit flowing, and prosperity increasing.

We have to question how sincere is the penitence or the moral indignation, when we would perhaps all do the same again, given the chance. Saying sorry is only useful when we do something to make amends, or change future conduct; otherwise it is hypocrisy and whitewash.

This all makes the 2009 season of Lent, beginning on February 25th and ending with Holy Week on the 5th of April, more relevant perhaps than in recent years. A time to re-examine moral priorities, to take stock, to put the brake on consumption, to simplify one’s life, and of course to seek spiritual experience, has always been advocated by the Church. It is a good exercise, even for those who have no faith in God at all. In the Churches we give opportunity for Christians to increase giving to charity, study and discuss fundamental issues, and examine their consciences.

Very often the consequence of this time of self-examination is not to make huge changes in our lives; but to realise that a few small steps and simple adjustments to the way we manage our time, attitudes or habits, can make a big difference. This may also be true of society at large; and if all this penitence has some effect, then maybe it will be worthwhile. If however we only blame the bankers, nothing will really change.

Chris Boulton