3 Jul 2012

Barclays chief condemns Bollinger dudes

On a day when it’s pretty clear that the authorities asserted dominion over our banking system, I was invited atop the Canary Wharf tower that houses Barclays to speak to its now un-resigned executive chairman Marcus Agius. He is not prone to lengthy answers, but I think much of what he does and does not say is rather telling. He would not deny or confirm that Mervyn King and Lord Turner had phoned last night.

He said the derivatives traders that rigged Libor acted in a “completely reprehensible” manner, and made some other intriguing observations. I’ve also been speaking today to the FSAs Lord Turner and Andrew Bailey, full detail in a fuller blog tomorrow.

Here’s my “Barclays Cluedo” report explaining the background to this:

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