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Post by Forever Sunshine on Jul 3, 2012 6:31:07 GMT -5
LONDON - Bob Diamond, the chief executive of Barclays, resigned early Tuesday over the lending rate-rigging scandal that last week saw the bank fined a record amount by U.S. and U.K. regulators.
The move deepens the latest crisis to hit the financial services industry, with observers suggesting investigations into the manipulation of inter-bank lending rates could soon implicate banks in the United States.
Diamond’s resignation comes a day after the company’s chairman Marcus Agius announced his own departure. Despite also being implicated in the issue, Agius will stay on to lead the search for a replacement chief executive, according a statement early Tuesday.
marketday.msnbc.msn.com/_news/2012/07/03/12537030-barclays-chief-executive-bob-diamond-quits-over-banking-scandal?lite
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Post by fuzzyems on Jul 3, 2012 6:33:29 GMT -5
Why do CEO's simply get to resign and walk away?
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Post by dom on Jul 4, 2012 10:53:47 GMT -5
After profits go south but walk away with a nice big fat payoff and generous pension.. while the workers get sweet F.A...
Thats how the capitalist system works..
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Post by pod 7 on Jul 4, 2012 14:20:06 GMT -5
Did anybody notice that the FINE was as it was reported over here (only once) that it was only TEN DAYS PROFIT --not a fine as more like a slap on the wrists
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