Democracy Gone Astray

Democracy, being a human construct, needs to be thought of as directionality rather than an object. As such, to understand it requires not so much a description of existing structures and/or other related phenomena but a declaration of intentionality.
This blog aims at creating labeled lists of published infringements of such intentionality, of points in time where democracy strays from its intended directionality. In addition to outright infringements, this blog also collects important contemporary information and/or discussions that impact our socio-political landscape.

All the posts here were published in the electronic media – main-stream as well as fringe, and maintain links to the original texts.

[NOTE: Due to changes I haven't caught on time in the blogging software, all of the 'Original Article' links were nullified between September 11, 2012 and December 11, 2012. My apologies.]

Showing posts with label Bob Diamond. Show all posts
Showing posts with label Bob Diamond. Show all posts

Wednesday, July 04, 2012

Diamond admits ‘reprehensible’ behaviour at Barclays

The chastened former head of Barclays apologized for the “reprehensible” behaviour of his traders who fixed interest rates, but told MPs on Wednesday his bank had been unfairly singled out after coming forward to admit wrongdoing.

Bob Diamond, 60, quit this week after Barclays agreed to pay nearly half a billion dollars in fines for manipulating the interest rates at the heart of the global financial system.

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Tuesday, July 03, 2012

Bob Diamond, Barclays Chief Executive, Quits Amid Mounting Pressure Over Rate-Fixing Scandal

LONDON (AP) — Barclays Chief Executive Bob Diamond has resigned with immediate effect, the latest scalp of a financial markets scandal that has also cost the job of the chairman.

The bank said Tuesday that outgoing-chairman Marcus Agius would lead the search for Diamond's replacement. Agius intends to stand down once a new chairman has been chosen, a spokesperson at Barclays said.

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