Thursday, July 5, 2012

Banks across the world were fixing interest rates in the run-up to the financial crisis

Banks across the world were fixing interest rates in the run-up to the financial crisis but regulators failed to take action to stop it, the former head of Barclays claimed today.

Giving evidence to Parliament Bob Diamond said Barclays had raised the issue of banks ‘under-reporting’ the true amount they were having to pay to borrow money but were ignored.

He declined to say that the regulators “were asleep at the wheel” but added: “There was an issue out there. (It) should have been dealt with”.
The Independent

Read full article »»



No comments:

Post a Comment