Tag Archives: Barclays Bank

Diamond In the Rough

Barclays chief executive Bob Diamond has resigned with immediate effect. The move comes less than a week after the bank was fined for trying to manipulate inter-bank lending rates, sparking a government inquiry and calls for criminal investigations. Mr Diamond said he was stepping down because the external pressure on the bank risked “damaging the […]

Corrupting risk on top of the surplus pyramid

In a real sense, human history starts with the creation of a social surplus, a surplus beyond simple subsistence. Such a surplus could be used for–indeed, was required to–build more complex societies. This included the literal building of the monumental architecture, the most striking creations from the existence of such surpluses. More food, more babies Merely increasing production does […]

Fixed Rates

The Governor of the Bank of England has launched a scathing attack on “deceitful” investment banking and called for a “real change in the culture of the industry” stretching right to the top, in the wake of the Barclays rate-fixing scandal. Sir Mervyn King, who refused to back Barclays chief executive Bob Diamond, added that […]