Political mood tips against bankers
News from Financial Times:

©Bloomberg

Barclays CEO Bob Diamond has waived his bonus

The anger at Westminster is raw. In what may come to be seen as a defining moment in relations between the British parliament and the City, Barclays’s attempt to rig interest rates has tipped the political mood from resentment to outright contempt.

George Osborne, the chancellor, spoke on Thursday of a financial system that had “elevated greed above all other concerns and brought our economy to its knees”; already the chancellor is plotting his revenge.

The cynical emails of Barclays employees trying to manipulate the interest rates of ordinary families and companies – “Dude, I owe you big time – come over one day and I’m opening a bottle of Bollinger” – fuelled the toxic mood in the Commons.

Mr Osborne said the missives read “like an epitaph to an age of irresponsibility”; J…………… continues on Financial Times

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