Fun With Banks!

[Rob McCow]

So... is there anyone on this forum who knew what Libor Rates were before last week?

This huge raft of bad press for Barclays is coming at a very unfortunate time. Britain depends on its banking sector to a far greater degree than most companies.

As for Mr Diamond - the argument in favour of executives drawing a huge salary is that they shoulder a huge burden of responsibility for their companies. So why is Mr Diamond not shouldering that burden now?

What are the conspiracy theories surrounding this? Why has it all come to light now, rather than about 4 years ago? The Olympics are coming up and Barclays are one of the major sponsors, but in the public eye their name is mud.

And does it actually make much difference to society as a whole?

[Nyder]

Barclays sponsored my breakfast show on University Radio Bath in 1991. I feel dirty & used now :-)

Sadly I reckon this isn't the last we've heard of rogue banking practice. As if we haven't had enough already!!

[Richard Brinck-Johnsen]

Well at least Diamond finally saw sense this morning. How he thought he could carry on without resigning beggars belief.

[Anthony Williams]

Throughout the financial crisis, I've been defending the banks. Certainly, there was a level of irresponsibility, but the recession wasn't entirely down to the banks.

Yet, since this broke, I feel that I was, to an extent, wrong. I still don't think that bankers were entirely responsible for the downturn. But, I've also come to agree that there's a certain level of corruption within the banks that really needs to be dealt with.

Now, I really don't think that there should be a witch-hunt over things like this. Certainly, those who have done wrong should face justice. But I really feel that a "bankers are evil" attitude has been (and would continue to be) extremely counter-productive in a country where the financial services sector contributes SO much to GDP. SOME bankers have done wrong, but not ALL bankers.

It's a shame that it was Barclays that did this, being one of the few banks that didn't need a bail-out! Further faith destroyed. But, they have paid their fine, and Bob Diamond has resigned over the issue. It probably isn't "case closed", and others will probably lose their jobs as a result. And if they WERE involved in this, then deservedly so.

[SiHart]

Did Labour seek to influence the banks while they were in power, or is the Chancellor making it all up? http://www.bbc.co.uk/news/uk-politics-18716828

[Jon Masters]

I think the game is called "Chuck the s#!t around so that some of it might stick to someone else "

I assume all politicians go to a special training course on it when they get into power.

[SiHart]

Members of this Government are quite adept at that game!