Every day I feel like the British public are being played. We’re treated like utter fools and, the best bit, we’re swallowing it.
Barclays staff were found to be fiddling the Libor (inter-bank) rate for lending and were fined a massive amount of money.
Heads must roll, if only to keep the British public happy. Something must happen, because we know that a “review” won’t satisfy the urge for instant action.
Today Barclays chairman Marcus Agius resigned and said that “The buck stops with me”.
Really?
I’ve just done a quick check and Marcus is 66 years old on July 22nd. What, in my mind, has happened is that he’s retired, taken a shitload of cash and allowed the company to publicly call it a “resignation”.
He’s going to be sat in his fat mansion with a huge pay-off / retirement fund while the banks continue to screw us from on high.
Nothing will change, but we’ll believe everything has been magically fixed.
Link – Barclays