BARCLAYS BOSS REFUSES TO RESIGN!

by WhiteKnight, UK, Friday, June 29, 2012, 05:14 @ Kookaburra1

You seem to have called it right K1!
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Barclays boss Bob Diamond says he will not resign

Bob Diamond says the bank's senior managers acted as soon as they were aware of the practice

The boss of Barclays has insisted he will not resign after staff rigged the key lending rate between banks.

Bob Diamond was speaking at a meeting of analysts at US bank, Morgan Stanley.

And in a letter agreeing to give evidence to MPs, Mr Diamond condemned the inappropriate behaviour of a "small number" of employees who had tried to make profits for their own benefit.

On Thursday, the prime minister said the bank's management faced "serious questions" after it was fined £290m.

Some MPs - including Tories Steve Baker and Nick De Bois - have suggested Mr Diamond should resign and former Liberal Democrat leader Paddy Ashdown told BBC One's Question Time his position was now "untenable".

Meanwhile, Barclays and other banks face the threat of criminal investigation in the UK over the scandal.

Royal Bank of Scotland has said that it expects to reach a settlement in a few months. One report said the bank faced a fine of £150m for market manipulation but RBS said it did not recognise that figure. <SNIP>

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