The Barclays LIBOR Fallout in Quotes

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


4. These Events Do Not Represent Barclays' Culture

I love Barclays, and I am proud of all of you. We all know that these events are not representative of our culture, and it is my responsibility to get to the bottom of that and resolve it. Make no mistake the actions taken in this incident were against all of the principles we live by.

— Former CEO Robert Diamond, in a July 2 letter to Barclays employees.

Source: BBC

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