Today the heads of nationalised bank Bradford & Bingley (B&B) were accused of acting like a financial Michael Fish and admissions they knew the writing was on the fall when the BBC reported a possible rescue.

Richard Pym, chief executive of B&B, and Rod Kent, former B&B chairman who stepped down last week, faced the Treasury committee – admitting reading BBC business editor Robert Peston’s blog signalled the end of the bank.

Treasury committee chairman John McFall came out hunting to find out why B&B had stated it was in a strong position on Thursday October 25th – after it dropped its mortgage business – but over the same weekend it was nationalised.

He asked whether the head of B&B was “a financial Michael Fish” predicting good weather in the face of a hurricane.

However, Mr Pym defended the statement: “The statement was true at the time.

“We were strongly capitalised, one of strongest in UK if not Europe. We were a strong savings bank.”

However, he explained as media reports grew about the fate of the bank, £26 million was taken out of the bank on Thursday October 25th, £90 million left on Friday 26th and Saturday 27th saw £200 million withdraw from online accounts.

“It was a difficult position, something had to happen,” said Mr Kent.

Mr Pym also attacked the media for its role, stating all attention turned to “poor little Bradford & Bingley… the last mortgage bank standing”.

“We knew things were bad when we saw Robert Peston’s blog,” he said

“On Saturday we were on the front page of the Daily Mail and the Telegraph, and customers are very aware when financial stories hit the front page and act.”

Mr Kent said: “The FSA phoned us and said – we have something to tell you.”