Thursday, June 28, 2012

Criminal Enterprises

Bob Diamond memories:

Bob Diamond stands firm against MPs' calls he forgo his bonus

The chief executive of Barclays answers questions from the Treasury select committee about bank bonuses and whether banks should be bailed out by the taxpayer in a financial crisis Link to this video

Bob Diamond, the new boss of Barclays, today stood firm against demands by MPs that he forgo his 2010 bonus as he said the time for apologies from banks was over.

In his first and at times fractious appearance before the Treasury select committee of MPs, Diamond also said that banks should be allowed to fail and should not be bailed out by the taxpayer.

Diamond, who could be on track for an £8m bonus for 2010, said: "There was a period of remorse and apology for banks and I think that period needs to be over."

That was January, 2011.