Barclays bank boss resigns in scandal

This video is called How Barclays manipulated the libor rates.

From daily The Guardian in England:

Barclays chief executive Bob Diamond resigns

Jill Treanor, City editor

Tuesday 3 July 2012 08.45 BST

Barclays chief executive Bob Diamond has resigned following the interest rate manipulation scandal

Bob Diamond has resigned from Barclays in the face of relentless political pressure for him to go following the interest rate manipulation scandal.

An attempt by the board to save his position by accepting the resignation of the chairman, Marcus Agius, on Monday has failed. Instead Agius will now become full-time chairman and lead the search for a new chief executive.

In a stunning turnaround – only on Monday the 60-year old chief executive was vowing to stay – Diamond is to go immediately after a 15-year career with the bank and only 18 months as chief executive.

Latest developments as Barclays chief executive steps down: here.

The move comes after Barclays was fined £290 million by UK and US regulators for manipulating the Libor, the rate at which banks lend to each other: here.

See also here.

The latest “crunch” EU summit at the end of June landed Italy’s citizens with a huge bill to bail out the banks yet again: here.

About these ads