It certainly was an interesting week for Barclays PLC, and not in a good way. The multinational bank is still reeling from the fallout of its attempt to rig the daily settings of London Interbank Offered Rate (Libor) and the Euro Interbank Offered Rate and subsequent fine of 290 million Pounds. And there was no midweek holiday respite for the London-based bank, as the notorious British press continued to blast the financial institution. For your enjoyment, Bank Systems & Technology has compiled the most provocative quotes related to the Barclays LIBOR scandal.
July 06, 2012
2. No Golden Parachute
It would be completely wrong if people leaving under these circumstances were given some vast pay-off.
— U.K. Prime minister David Cameron says bank executives who leave their job as a result of a scandal, such as Barclays CEO Robert Diamond, should not receive a so-called "golden parachute" when they exit.
Source: Bank Systems & Technology
