Bob Diamond won't go quietly, threatening to hit back by revealing dealings with regulators...

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wyostocks Comments (5344)
 
I cannot believe that government regulators and the bankers are in bed together to defraud the public.

Shocking, utterly shocking.
2 Jul 2012, 05:39 PM Reply Like

schatzl Comments (391)
 
Neither shocking nor disappointing, but I blame those banking and political tards for becoming an incorrigible cynic.
2 Jul 2012, 05:47 PM Reply Like

Whitehawk Comments (2787)
 
Accusation of LIBOR manipulation is old news, cf. 2008/9.
2 Jul 2012, 05:53 PM Reply Like

montanamark Comments (1359)
 
are you inferring that in todays modern times manipulation and corruption is assumed
2 Jul 2012, 06:20 PM Reply Like

winningtrader Comments (2265)
 
Haha, Diamond is a poor leader at Barclays but a very clever politician. I assume the regulators will back down but frankly in the UK this is very difficult. Remember that some MP's went to jail for a few hundred dollars of expenses. Even if the regulators back down, somebody else is likely to pick it up and my bet is that Diamond is dead.
2 Jul 2012, 05:41 PM Reply Like

Whitehawk Comments (2787)
 
The credit markets seizure in 2007/8 as measured by the TED spread and other metrics hit record levels, some 17 SDs beyond "normal." This signified that banks were simply not willing to lend to counterparties in an acutely uncertain environment. Barclays and others (perhaps all interbanks) can get accused of manipulation (and some are perhaps guilty) but the fact is that the contraction was acute from several high profile defaults stemming from CDOs and SPVs, all related to over-zealous lending and cheap money prior to 2007. Our own Fed affected the system by manipulating rates throughout the period, instead of letting markets work as they should.
2 Jul 2012, 05:51 PM Reply Like

paul j schupf Comments (73)
 
The negative comments on Bob Diamond are inaccurate.
i have had the pleasure of working with him at Colby College.
He is a first class citizen.
2 Jul 2012, 05:52 PM Reply Like

FocalPoint Analytics Comments (5064)
 
He is publicly saying a crime was committed and is threatening to expose the "regulators". This lets the Genie out of the bottle. Now it has to be investigated, and his bargaining chip is worthless. Now it seems the only options concern how to keep hiim quiet.
2 Jul 2012, 06:07 PM Reply Like

FocalPoint Analytics Comments (5064)
 
And now he has resigned along with the COO...
This Libor manipulation story a very big deal.
3 Jul 2012, 07:19 AM Reply Like

FocalPoint Analytics Comments (5064)
 
From BBC:

What persuaded Mr Diamond and his board colleagues that he should resign was an unambiguous message to the bank from Sir Mervyn and Lord Turner that they would be happy if he resigned.

As a regulated institution, it was impossible for Barclays' board to ignore the revealed wishes of the two most powerful regulators in the City. "This is a case of the governor getting his way by the inflexion of his eyebrows," said a source. "It is how it used to happen and it is a good thing that it is happening again".

The message that the Bank of England governor wanted Bob Diamond to go was delivered personally to Barclays' chairman Marcus Agius in a telephone conversation between the two of them yesterday.
3 Jul 2012, 09:09 AM Reply Like