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Anorak | Bob Diamond strikes to the heart of The Establishment

Bob Diamond strikes to the heart of The Establishment

by | 4th, July 2012

WITH the style and grace of a petulant Italian footballer, the quitting Chief Executive of Barclays Bank, Bob Diamond is going all out to bang it into the back of the Bank of England’s net today, according to the Guardian.

There are many other targets in Diamonds sights.

The Guardian says Diamond, who yesterday resigned from Barclays one time sponsors of the UK soccer Premier League, was expected to fight tooth and nail for his reputation when he today appears before a powerful committee of MPs.

According to the Guardian he is to: “…unleash a wave of explosive revelations about the role of City watchdogs and senior Whitehall figures in the manipulation of crucial interest rates that landed the bank with a record £290m fine last week.

 

Necks will be hot under the collars of Whitehall mandarins, ex and present Premiers and Chancellors.

Diamond has much muck he can spread.

What will worry the UK Establishment down to their polished shoes, and always jet black socks, is Bob Diamond is not one of them. US born and raised citizen, he has no Old School Tie to protect and with the wolves snarling and circling to hit at his (contracted and probably safe) resignation mega Crock of Gold he could very well attempt to bring down the whole pack of cards.

He is a profit maker brought in to use every tactic he could to advance the profit of his banking company. He is no Mr Nice Guy and one of the Great Greedy Ones MPs now bleat about despite having very gratefully accepted the crumbs from the City’s various troughs over the years.

Let’s hope Diamond does become Bob the Boot.

There are many collars which the Old Bill should be fingering – no matter how many contain red and sweaty necks. Bob could point the finger. These have been criminal activities and UK Prime Minister Cameron should be looking very closely at the almost impenetrable structures Whitehall has colluded, connived and schmoozed to surround things like membership of regulatory bodies.

 

Not least is the question of who decided to try and let Barclay’s off with a measly multi-million fine. There should and must be charges at Barclays and in the other banks involved.

Time for an audited account and a demonstration of accountability.

It could be a very entertaining day.



Posted: 4th, July 2012 | In: Money Comment (1) | Follow the Comments on our RSS feed: RSS 2.0 | TrackBack | Permalink