More Bankers Should Resign

More Bankers Should Resign.

Barclays CEO Bob Diamond has resigned yesterday amid the public outcry after Barclays was fined for fixing Libor (London Inter Bank Offer) interest rate.

Barclays chairman Marcus Agius previously resigned but Bob Diamond has repeatedly ignored calls to resign over the last week.  However with Diamond now resigned, Agius has now been reinstated as acting chaiman and will lead the search for a new CEO.

Ashley Clark's View:
The issue of interest rate fixing between banks no doubt goes deeper than just Barclays.  The Financial Services Authority will no doubt be investigating more banks as we write and we suggest that banks need to be shaken up and the culture of profit irrespective of the consequence should go.  The only incentive for this should be making it a criminal act with the prospect of jail.  It is fraud.  It should be punished by jail.