Chairman of Barclays ‘set to quit’ over Libor rate-fixing scandal…(Still Long On Rope Futures!!)
SUNDAY 01 JULY 2012
The chairman of Barclays Bank was tonight reported to be on the brink of stepping down as the row intensified over the Libor rate-fixing scandal.
Reports said Marcus Agius was about to leave the embattled bank, which declined to comment on the suggestions.
The development came as Business Secretary Vince Cable backed calls for a criminal investigation into bankers involved in the affair.
The Liberal Democrat Cabinet minister said the public could not understand why the perpetrators of “what looks like a conspiracy” were allowed to “just walk away”.
The potential for prosecutions arising from the scandal has been downplayed by Treasury sources who point out that there are no criminal sanctions in place for manipulating the inter-bank lending rate, or Libor.