Posts tagged ‘HSBC’

June 28, 2012

Rough Diamond

Oh dear, the banks have been caught at it again. This time it is Barclays; the one bank that looked strong and seemed to give the impression that it had managed its books well to escape a public takeover. How looks are deceiving. Traders under Bob Diamond’s watch were blatantly manipulating inter-bank lending rates to ensure a larger profit margin.

Wasn’t it Bob Diamond who spoke about cultural reform in the banking sector following the global financial crisis? How the pot is calling the kettle black.

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