Diamond Censured Over Evidence in Barclays Libor Probe [1]

Bloomberg Business Week
By Howard Mustoe on August 18, 2012

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Robert Diamond, former chief executive officer of Barclays Plc, center, leaves Portcullis House in London, on July 4, 2012. Photographer: Paul Thomas/Bloomberg

Barclays Plc (BARC) ex-Chief Executive Officer Robert Diamond was criticized for giving “unforthcoming and highly selective” evidence by a U.K. parliamentary report that faulted the bank for letting traders rig interest rates.

The “candor and frankness” of Diamond’s testimony to lawmakers on July 4 “fell well short of the standard that Parliament expects,” the House of Commons Treasury Committee said in a 122-page report today following its inquiry into the bank’s attempts to manipulate the London interbank offered rate.

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