So Bob Diamond has resigned as CEO of Barclays, the day before his hearing at the UK Treasury and just hours after a senior employee of Barclays said he was willing to go all out and reveal details of dealings between regulators and his bank if he was questioned too hard.
Has he gone because he knows he will be crucified or because someone at the bank is forcing him out?
Should he get a severance package (he has already forgone his 2011 bonus)?
How will Barclays function given that it's Chairman and CEO have both gone in a few days and there are no clear replacements?
How does this bode for the industry and senior executives at other banks which will be implicated in the LIBOR scandal? (They all did it, it's just a matter of proving it).
I told you guys months ago that this LIBOR scandal was bigger than 2008. Heads are gonna roll...
HOW DARE YOU TAMPER WITH RATES?!!!! THAT'S OUR JOB
-the Fed
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