Libor scandal: Bob Diamond gives up £20m bonus

[dipsydoodle]

Source: BBC News

Ex-Barclays boss Bob Diamond has given up bonuses worth up to £20m after resigning amid the bank Libor scandal.

Barclays executive chairman Marcus Agius, who is being questioned by MPs about the scandal, said Mr Diamond had given up his bonus voluntarily.

Mr Diamond will get up to a year's salary, pension allowance and benefits believed to be worth £1m to £2m.

The Treasury Committee is trying to establish the role the Bank and the government played in the rate-fixing.

Read more: http://www.bbc.co.uk/news/business-18779089

[customerserviceguy]

1. And still a one to two million pound golden parachute

They really threw the booklet at him for LIEbor, didn't they?

[TrollBuster9090]

4. Fortunately, there IS no Republican Base in Britain to defend criminals on ideological grounds.

And thus, the British politicians and law enforcement agents are not afraid to keep going after him.

The irony is that, if this scam had just been confined to AMERICAN banks....Holder would have let it slide on the grounds that A) he doesn't want to appear to be a 'radical negro' that makes everybody nervous, and B) he's probably in on a cut of the take.

However, the British are not afraid to go after crooks, and in Britain corporate criminals are not protected by a phalanx of polyester-clad morons who are hailing the as 'job creators.'

[FarCenter]

9. In this case they are going after an American and a Canadian

Bob Diamond is American and Del Missier is Canadian. It will be interesting to see whether the dismissal of Agius sticks or whether he is reinstated for more than the period of searching for a replacement for Diamond. Marcus was the chairman of the British Banking Association, which sets LIBOR, as well as being Chairman of the Board of Barclays. But he would appear to be one of the "right sorts" in British banking, since he is a Cambridge man.

[Tanelorn]

2. Gave up his bonus? Why wasn't he immediately clapped in irons and dragged away?

[jakeXT]

6. The question is, who is involved

[TrollBuster9090]

3. Did you ever see that scene in the 1982 movie THE BOUNTY where cannibals are chasing Captain Bligh?

Captain Bligh (Anthony Hopkins) is being chased by Fijian cannibals (so ironic, considering his later roles), and in order to get away from the mob of cannibals, he takes off his hat and coat and throws them back to them. They get so distracted looking at the shiny hat and coat he's just tossed away that they let him and his men get away.


Well, it looks like Bob Diamond has just thrown his 20 million pound bonus hat and coat to the mob that's chasing him...

[unapatriciated]

5. How much money do you have to have...

to be able to throw away 20 million w/o a fight?

it's probably like a coupon to him

[TrollBuster9090]

7. Pretty much.

Just reach into your pocket and throw your loose change onto the ground to distract the plebs who are chasing you. It'll probably work, too.

[Huey P. Long]

8. Mainstream Economist: We Might Need to Hang Some Bankers to Stop Criminal Looting

Mainstream Economist: We Might Need to Hang Some Bankers to Stop Criminal Looting
Posted on July 8, 2012 by WashingtonsBlog

Even Nouriel Roubini Says We Need to Jail or Hang Some Bankers
Nobel prize winning economist Joe Stiglitz – and many other experts – have said nothing will change unless dishonest bankers are jailed.

Former trader Max Keiser has been calling for years for crooked bankers to be hanged, to send a message that crime won’t be tolerated.
But Nouriel Roubini is a lot more mainstream than Keiser – or even Stiglitz – being very close to Treasury Secretary Tim Geithner. See this and this.

Roubini told Bloomberg that nothing has changed since the start of the financial crisis, and we might need to throw bankers in jail – or hang them in the streets – before they’ll change:

Nobody has gone to jail since the financial crisis. The banks, they do things that are illegal and at best they slap on them a fine. If some people end up in jail, maybe that will teach a lesson to somebody. Or somebody hanging in the streets.

-
I noted 7 years ago:
I am NOT calling for the overthrow of the government. In fact, I am calling for the reinstatement of our government. I am calling for an end to lawless dictatorship and a return to the rule of law. Rather than trying to subvert the constitution, I am calling for its enforcement.

***

The best way to avoid all types of revolution would be for the government to start following the rule of law. I passionately hope it will do so.

The fact that even mainstream economists like Roubini are talking about hanging bankers shows that this is the last chance for the justice system – the only thing which stands between criminals on Wall Street and pitchforks – to work.


-
http://www.washingtonsblog.com/2012/07/mainstream-economist-we-might-need-to-hang-some-bankers-to-stop-illegal-behavior.html

[LeftishBrit]

10. 20 million bonus? Who the hell needs a 20 million bonus anyway?

Talk about GREED.

If the banks have that much money to spare for bonuses, then why do they need bailouts from the government?

[Kablooie]

11. Me. I need it. I do. Me.

I'm not greedy, I just want more for myself than anyone else.