It’s becoming difficult to predict just when the period of remorse and apology for bankers really will be over. Bob Diamond claimed that it had finished in January 2011, and found to his cost this summer that this was not true.
The Libor scandal that cost the Barclays boss his job wasn’t the only unpleasant thing to crawl out of what Vince Cable described as the ‘cesspit’ in the City of London, though. Today Standard Chartered’s shares fell by 16 per cent following allegations from US regulators that the bank had covered up £160bn worth of transactions with the Iranian government. And at Southwark Crown Court this morning, Jessica Harper, head of fraud and security for digital banking at Lloyds bank admitted a £2.4 million fraud.
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