ALJAZEERA: Bob Diamond, the former chief executive of Barclays, has given up bonuses worth up to 20m pounds ($30m) following his resignation over an interest rate-rigging scandal, the bank’s chairman told a parliamentary inquiry on Tuesday.…
[Diamond said:] “It is my hope that my decision to step down and today’s agreement on my remuneration will help close this chapter and allow Barclays to move forward and prosper.” …
Barclays says a group of its traders tried to manipulate Libor for profit as far back as 2005, and says it wrongly lowered estimates of the interest it paid other banks at the height of the crisis in 2008 to make its financial position appear better… (more)
EDITOR: We wonder whether this was an act of contrition of whether it was a settlemenet of possible legal actions that bank may have taken against him. We would like to believe the former.
