Diamond resigns, Cameron announces limited inquiry

Bob Diamond has this morning resigned as CEO of Barclays. Clearly, the reputation of Barclays is under some pressure over this LIBOR-fixing scandal. That said, one is still incredulous to hear shareholders this morning defending him – or at least his aggressive banking style that they think suits their dividend requirements.

Yesterday, David Cameron announced a parliamentary¬†review of banking – or rather professional and cultural standards in the banking industry to be chaired by Andrew Tyrie. Tyrie is now doing some back peddling in light of Labour’s call for a more substantive review of banking presided over by a lawyer similar to Leveson currently investigating phone hacking.

Advertisements

No comments yet

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: