Tuesday, 3 July 2012

Daily Telegraph: "Party is over for bankers"

Link to web site

"Glum faces as events force the British Bankers’ Association to cancel Wednesday's summer reception"
"Angela Knight, BBA’s CEO, emailed guests:
"It would be wrong to proceed. We regret the short notice, but our industry needs to think long and hard about its collective behaviour."
"... The bash in the grounds of Westminster Abbey had been set to bring together 'political figures, senior members of the banking community' and 'high-level officials at the Bank of England, the FSA, HM Treasury', according to the event blurb."

"Bob Diamond's resignation as Barclays chief shows 'business has got political'"
"Bob Diamond's decision to resign as chief executive of Barclays over the interest rate rigging scandal leaves politicians crowing and a bank in disarray, says The Telegraph's Head of Business, Damian Reece."

"As the search for a new chief executive of Barclays begins, Damian Reece warns that Bob Diamond's scalp [this morning] may have a wider impact on British business:
"[His resignation] shows just how political British business has become. Business is front line politics and people in business, running large companies in the UK, may well find that a very uncomfortable place to be in the years to come."

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