Barclays interest-rate scandal
Latest on the manipulation of rates by banks
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Mr Osborne's statement might not be confined to Barclays. The Financial Services Authority has disclosed that it had a number of other investigations under way, meaning that other banks might used underhand tactics to try to rig financial markets.
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#barclays It will be the share price and City confidence that gets Bob Diamond, not politicians. Barclays' shares are off 8 per cent so farby christopherhope via twitter 6/28/2012 10:09:08 AM -
Bob Diamond, who was in charge of Barclays Capital at the time the breaches occurred between 2005 and 2009, has apologised and said he and three other key executives would waive their bonuses for this year. That's not good enough, according to most commentators. Ed Miliband, the Labour leader, has called for a criminal investigation.
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#barclays Bob Diamond - if you get bonuses when the bank does well, dont claim ignorance when its does something criminal!!!! #crooksby hagweulhaha via twitter 6/28/2012 10:17:52 AM -
I'll bet that Bob Diamond is on a flight back to US by now. I'll also bet that we will not be able to extradite him back from US! #Barclaysby flippertygibble via twitter 6/28/2012 10:18:00 AM -
REACTION: "I think the whole management team have got some serious questions to answer. Let them answer those questions first. Who was responsible? Who was going to take responsibility? How are they being held accountable?'' - Prime Minister David Cameron on being asked whether Mr Diamond should resign.
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i see bob diamond is to give up his bonus following barclays bank revelations- im sure he will miss it having taken home £100m since2006by DavidHansonMP via twitter 6/28/2012 10:25:24 AM -
REACTION: Lord Oakeshott, a former Liberal Democrat Treasury spokesman, has described Barclays as "a casino that was rigging the wheels and loading the dice". He said: "If Bob Diamond had a scintilla of shame, he would resign. If Barclays' board had an inch of backbone between them, they would sack him."
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No.10 spkeswmn re bank scandal:"This is essentially a regulatory matter. The PM finds the latest situation deeply concerning"by Paul Waugh via twitter 6/28/2012 10:32:56 AM -
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REACTION: "This cannot be about a slap on the wrist. When ordinary people break the law, they face charges, prosecution and punishment. The same should happen here. The public who are paying the price for bankers' irresponsibility will expect nothing less.'' - Labour leader Ed Miliband
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Scameron: '#Barclays management has serious questions to answer' - shouldn't that be 'serious fraud charges to answer'?by NemoSisterOTM via twitter 6/28/2012 10:37:44 AM -
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Statement from George Osborne shortly on Barclays Libor scandal. Yet another example of the rot that occurred under last Labour Government.by mp4chester via twitter 6/28/2012 10:40:12 AM -
Osborne made decision that LIBOR should remain an unregulated activity in the current Financial Services Bill, despite Labour questions.by ChrisLeslieMP via twitter 6/28/2012 10:42:20 AM -
Struggling to get head around what Barclays did wrong? This Q&A should help.
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Oi Barclays, give me back my money!!! thieving bunch of ne'er-do-wellsby 0ctavia via twitter 6/28/2012 10:47:48 AM -
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EdMiliband has a cheek critising regulatory regime that allowed #Barclays scandal. He was Gordon Browns SPAD at Treasury when FSA createdby BrummyInLondon via twitter 6/28/2012 11:00:25 AM -
The FSA has published a number of email trails in which Barclays traders and submitters discuss manipulating the prices of the interest rates to try to make greater profits. Here's our favourite:
Submitter: "Hi all, just as an FYI, I will be in noonish on Monday."
Trader: "Noonish? Who's going to put my low fixings in? hehehe."
Submitter: "...will be here if you have any requests for the fixings.” -
In March Labour called for tougher regulation and complacent Govt dismissed it out of hand - @edballsmp on Barclaysby Labourpress via twitter 6/28/2012 11:04:57 AM -
Here's another of those email exchanges:
Trader: “The big day arrived… My NYK are screaming at me about an unchanged 3m libor. As always, any help wd be greatly appreciated. What do you think you’ll go for 3m?”
Submitter: “I am going 90 altho 91 is what I should be posting.”
Trader: “...when I retire and write a book about this business your name will be written in golden letters.”
Submitter: “I would prefer this not be in any book!” -
*An Inquiry* into the bank wrongdoing? We don't need no stinkin inquiry - we need criminal investigations and charges. #barclaysby galoot via twitter 6/28/2012 11:12:05 AM -
UK rioters imprisoned for stealing bottles of water. #Barclays bosses slapped on wrist for manipulation of trillion-pound markets. #pmby MadamMiaow via twitter 6/28/2012 11:13:33 AM -
In Commons to hear what the Government has to say about Barclays' dodgy activities around interest rates.They were cleaning up their act! Noby ACunninghamMP via twitter 6/28/2012 11:13:57 AM -
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