Bob Diamond's departure from Barclays, announced yetserday, was no more than had to happen. He had clearly failed miserably in his management of the bank and, before that, in his management of the investment division which was intimately involved in the LIBOR fixing scandal.
What we now need to to hear is that this man's termination package is minimal in size, and not the tens of millions such things so often are. Then we need to hear that any other bankers who had a hand in this financial manipulation are sent packing as well. Finally, it would be quite nice to hear that a few of these greedy and corrupt people, wherever and whoever they are, were going to face criminal charges.
Not much hope there.
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