Barclays' Diamond Is Not Forever
July 3rd 2012, and Robert "Bob" Diamond, CEO of Barclays Bank resigned from his post following the further revelations of inappropriate business practices at the bank, relating to the setting of the London Inter-Bank Interest Rate or LIBOR. This follows the now infamous sounding out of the tax avoidance, or could it have been actually evasion schemes that the wealth management arm of the bank had been found out on and subjected to investiagations by the UK's HMRC. July 4th and he is required to attend the Treasury sub-committee of the British Parliament. Credit should be given that he did actually attend, unlike the CEO of Kraft Foods, but his performance in trying to show innocence as a whistleblower does not stack up. This is a part of a pattern where the whole banking sector is trying to play against each other in more and more desparate ways in order to substantiate profitability and justification for extremely high basic and overall salary packages. Shareholders ar