Bob Diamond's 'highly selective' evidence slammed in MPs' Libor report

[alp227]

Source: The Guardian

MPs have attacked the former Barclays boss Bob Diamond for being "highly selective" in the evidence he gave to their emergency hearings on rigging key Libor interest rates, in the first comprehensive report on the way bankers and regulators handled the scandal.

The Treasury select committee also criticised the Bank of England and the chief City regulator for being slow to notice the events that led to the £290m fine for Barclays in June. "It doesn't look good," said Andrew Tyrie, the Conservative MP who chairs the committee, pointing out that neither spotted the problems with Libor.

Speaking about Diamond's appearance before the committee last month, he said: "Select committees are entitled to expect candour and frankness from witnesses before them. Mr Diamond's evidence, at times highly selective, fell well short of the standard that parliament expects, particularly from such an experienced and senior witness."

The "poor state" of the culture at Barclays was also criticised, as was its board.

Read more: http://www.guardian.co.uk/business/2012/aug/18/bob-diamond-slammed-libor-report

[Trillo]

1. It is "strongly worded",

but not profane.

[Dustlawyer]

2. Fine, fine, fine, where are the words "charged," "indicted," and "arrested!"