Bob Diamond Resigns.

The CE of Barclays has caved in to public pressure and has resigned. Is that the end of his role in this saga or is there more to come ?

Re: Bob Diamond Resigns.

I'm waiting to see what Diamond is asked and what he has to say on Wednesday.
He may have bowed out of Barclays and that's the end of his role inasmuch as he has resigned, but I think there is more to come out of the woodwork yet and the exposure of more banks.
If there is any justice there will be criminal prosecutions and heavy penalties together with prison sentences for those found guilty. I noticed that in the US serious litigation is already underway and it has been said that we in the UK are slow off the mark.

Re: Bob Diamond Resigns.

The revolving doors at Barclays must be working overtime, the Chairman one Marcus Agius, resigns on Monday, CEO Diamond resigns on Tuesday and before you can say fiscal stimulus, Marcus is reinstated back in the comfy chair.

How long for is anyones guess given the pathetic display he gave on the BBC - of which he is also a board member - whilst trying to defend the bank's handling of the Libor rigging scandal that seems to be enveloping the bank and now politicians from all political hues.

I can quite see why some folks have decided to move to another bank but in all honesty is there really anyone left that is any better?

Re: Bob Diamond Resigns.

Some years ago the Mafia hanged 'God's banker' (the financial expert hired by the Vatican) from Blackfriars bridge. I wonder can we do the same for any other of these bankers found guilty of massive fraud???

Re: Bob Diamond Resigns.

Well, I have been half listening to Diamond being questioned now for over two and a half hours, and I don't think he has answered a question with a straightforward reply yet.
He has managed very well to sit tight and say nothing much at all, or to go off at a tangent or to simply repeat that he loves Barclays and he wasn't aware of anything going on, but now it is out the reprehensible behaviours of a few have been dealt with. I hope there is actually something from the analysis of the notes and recordings taken that can usefully be used against this man. I won't hold my breath, but you never know.

Re: Bob Diamond Resigns.

Which is precisely why Rena darlin' that we need a full-scale judicial enquiry. Bob Diamond may be able to dodge questions from the Treasury Committee, but I don't think he would get off so lightly against a Barrister.

Re: Bob Diamond Resigns.

He is certainly skilled in the art of 'laying off' questions and as you say Rena, he largely ran rings round the somewhat innocuous - apart from the odd one or two - questions .

It was noticable, at least from my uninformed perspective that the probability of ministerial involvement back when this took place was not explored as strenuously as it should have been.
Perhaps a clue was evident as to how deep this goes at Prime Ministers Questions earlier. The usually garrulous buffoon Ed Balls was for once almost inert.

Once again it all smacks up of yet another cover up.

Re: Bob Diamond Resigns.

I've been switching between Wimbledon, the Tour de France and the parliamentary cross-questioning of BD but from what I saw of it he appears to be lying through his teeth. He claims to be aware that other banks were manipulating the Libor rate but not his own bank- how likely is that ?

Re: Bob Diamond Resigns.

Another smarmy overpaid 'oh dear , I earn 40 million a year as the boss but didn't know what was happening in my own organisation which I love ' in which case he deserves a boot up the behind for incompetence .

Re: Bob Diamond Resigns.

I agree. The select committee was useless today and wont be any better in a full review meeting.

The most annoying thing about today is that Dave and his mates are more interested in pointing the finger at labour ministers of the day than actually doing anything about the disgusting mess.