Friday, 29 June 2012

Bob Diamond - still in his job

But for how much longer......

“People have to take responsibility for their actions and show how they’re going to be accountable for those actions.”
David Cameron

"I think Bob Diamond has some incredibly important questions to answer, not least because he was the head of Barclays Capital while this was going on, but also he is a derivatives expert – so he should know what is going on."
Mark Garnier, a Conservative Treasury select committee member

"a sewer of systemically amoral dishonesty"
John Thurso, Liberal Democrat MP

“This whole thing stinks. The banking industry needs this news like a hole in the head and they only have themselves to blame – again.”
Alistair Darling, former Labour chancellor

“Barclays’ misconduct was serious, widespread and extended over a number of years. The integrity of benchmark reference rates such as LIBOR and EURIBOR is of fundamental importance to both UK and international financial markets. Firms making submissions must not use those submissions as tools to promote their own interests.”

“Making submissions to try to benefit trading positions is wholly unacceptable. This was possible because Barclays failed to ensure it had proper controls in place. Barclays’ behaviour threatened the integrity of the rates with the risk of serious harm to other market participants.”

Tracey McDermott, acting director of enforcement and financial crime

1 comment:

Stevie b. said...

How can these people bear to stand behind him without a clothes-peg....?