Time called on Casino boss, Diamond.

There has been one accusation after another about wrongdoing in the banking sector in the United Kingdom. The most talked about being the PPI scandal that has raged on for quite a bit. Even as banks are still involved in paying out customers who were wrongfully forced to pay extra on loans they took out. Now we have the Euribor (European InterBank Offered Rate) and Libor (London InterBank Offered Rate) scandal. The funny thing is that these scandals always get blown open years after it had happened. It does beg one to wonder what scandal is going on at present, how big is it and when it is going to be found out. 

Bob Diamond .......out

I guess people got a bit frustrated especially with Bob Diamond. Barclay's CEO. You see, looking from the outside you have to think that Bob Diamond has always been one of the good guys. He was always at the fore front of the Whistle blowing process. Always looking to cut the quick deal.  He was always the first to own up and say this and that has happened at my Bank, we take full responsibility and  are willing to face the consequences. The fact is, it so happens that the penalty is always a fraction of profits raked in from the said deed. I mean if I made a profit of £2 Billion in 5 years over a particular endeavour, paying out £250 Million in fines and Penalties was a real bargain. I think they always had this in mind before they would embark on any such path. So like typical bankers they will weigh the odds, weigh the likelihood of a penalty and try to calculate what the penalty would be and then its business as usual. 

Some referred to him as a Casino boss, running his bank like a Casino. One thing was clear though, he had the swag and he had the looks and his books suggest he also had the tact. He would definitely be missed. Lets face it, in this day and age no bank can really survive going by the books. You have to be able to have you own definition of the phrase;  Honest Banking. 

You know in years past when you heard the words Bank Robber, you visualize a man wearing a black balaclava with a gun carrying a sack of bank notes and dashing down the street out of a bank with sirens blaring behind him and policemen bearing down on him. These days the picture has somewhat changed. You see, the guy in the Balaclava is actually a banker, running towards the banks with a sack full of money tricked out of the poor and needy. Behind him there are politicians racing to cover his tracks. Further down from the politicians you have a mob of angry people screaming and crying for justice.  

London is undoubtedly one of the most lucrative financial hotspots on earth. A fact which gives it's financial institutions some very serious clout. The Banking sector in the United Kingdom is Primarily its biggest export.  This fact left it a little bit too exposed to the global financial crisis and so it was imperative the Government got involved in some way making sure that the industry this side of the river did not go down or did not even seem to be going belly up. 

For ones Barclays has been made to pay something other thank meagre fines for its consistent nefarious acts. The fact that it sacked a couple of traders and paid a few pounds in fines did not seem to cut it. In a way it is a good thing that Bob did indeed step down. If only as a starting point. I do not think Bankers would be deterred though, not until they see one of there own behind bars playing checkers with a more conventional old school bank robber. I can't help but imagine what they would talk about.