Be informed

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.