Diamond Censured Over Evidence in Barclays Libor Probe

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Bloomberg Business Week
By Howard Mustoe on August 18, 2012

Bob Diamond

Robert Diamond, former chief executive officer of Barclays Plc, center, leaves Portcullis House in London, on July 4, 2012. Photographer: Paul Thomas/Bloomberg

Barclays Plc (BARC) ex-Chief Executive Officer Robert Diamond was criticized for giving “unforthcoming and highly selective” evidence by a U.K. parliamentary report that faulted the bank for letting traders rig interest rates.

The “candor and frankness” of Diamond’s testimony to lawmakers on July 4 “fell well short of the standard that Parliament expects,” the House of Commons Treasury Committee said in a 122-page report today following its inquiry into the bank’s attempts to manipulate the London interbank offered rate.

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