''Bob Diamond was not for ever – but the Barclays crisis is just the start''

From New Statesman


''The LIBOR issue here is that traders who worked for Barclays were systematically claiming that they were borrowing money at lower rates than they actually were. This put Barclays in a better financial position than it probably should have been at a time when the talk in the markets was that the bank was in trouble and would potentially run out of credit. It remains unclear why the traders would have done this without approval from senior management, as it is unclear what they had to gain personally.''

read more