Bob Diamond needs to go now


I have blogged about banking frequently in the past.

I have also blogged about big bonuses, and management taking responsibility for their actions

So it should come as no surprise that I think Barclays Chief Bob Diamond should resign, or be sacked, following revelations that Barclays fixed the interest rate level.

For me Bob Diamond’s position is untenable. He was in charge of this part of Barclays when this took place.  Marcus Agius has done the right thing in resigning, now Bob Diamond needs to do the same.

If Barclays want to regain the trust of its shareholders and account-holders, he needs to reisgn. If he won’t resign, the Barclays Board needs to sack him.”


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