Barclays bank chairman Marcus Agius to resign

[maddezmom]

Last edited Mon Jul 2, 2012, 09:32 AM - Edit history (1)

Source: BBC

Marcus Agius is to resign as the chairman of Barclays in the wake of the Libor lending rate scandal.

BBC business editor Robert Peston says Mr Agius will admit to an "unacceptable standard of behaviour" at Barclays when he makes the announcement on Monday.

It comes after Barclays was fined £290m ($450m) for attempting to manipulate the Libor inter-bank lending rate.

Earlier, it emerged RBS had sacked four traders over their alleged involvement in the Libor-fixing scandal.


Read more: http://www.bbc.co.uk/news/uk-18665719

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UK fraud office weighs prosecutions of Barclays

Updated 08:18 a.m., Monday, July 2, 2012

LONDON (AP) — Britain's Serious Fraud Office says it is considering the possibility of criminal prosecutions for a financial market manipulation scandal that involves Barclays bank.

Barclays has been fined $453 million by U.S. and British agencies for providing false data on borrowing costs between 2005 and 2009.

The Serious Fraud Office said Monday that the issues are complex but it hopes to decide within a month on whether prosecutions are possible.

http://www.chron.com/news/article/UK-fraud-office-weighs-prosecutions-of-Barclays-3677939.php

[russspeakeasy]

1. As I understand it, it involved the interest rate on Trillions.

One resignation and $450 million fine ?
If I'm wrong on my numbers, let me know and I'll delete my post.

[alp227]

2. The UK business secretary has called for criminal investigation

http://www.democraticunderground.com/1014157033

[Bigmack]

3. When will these guys start to use the "Japanese Resignation"...

... you know. Harakiri. Seppuku. Atonement for their shame.

They should use both the horizontal and vertical cuts.

[Po_d Mainiac]

4. jump

[Woody Woodpecker]

5. And I just finished settling with this bank.....

Robbers.. All of 'em. They wanted $1,350, they agreed to $900 to close the CC account.

And that was on a $600 balance when they doubled my interest rate, nearly tripling my minimum payment...

[dipsydoodle]

6. Barclays to review 'flawed' practices as Agius resigns

Barclays has promised a "root and branch review" and announced the resignation of its chairman Marcus Agius following the inter-bank lending rate-fixing scandal.

In his statement, Mr Agius said: "The buck stops with me."

http://www.bbc.co.uk/news/uk-18669834