Barclays chief executive Bob Diamond quits

[Forever Sunshine]

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

[fuzzyems]

Why do CEO's simply get to resign and walk away?

[dom]

Why do CEO's simply get to resign and walk away?

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..

[pod 7]

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