Marcus Agius, Chairman of Barclays, Resigns – NYTimes.com

Marcus Agius, Chairman of Barclays, Resigns – NYTimes.com.

Marcus Agius, the chairman of Barclays-Nader Nazemi

Marcus Agius, the chairman of Barclays: It’s not stealing if it’s not direct.

Just a resignation ? Shouldn’t be thrown into jail for 150 years ? Manipulating interest rates for the benefit of his bankand other banksters like him is not just criminal but disgusting.


LONDON — Marcus Agius, the chairman of Barclays, resigned on Monday, less than a week after the big British bank agreed to pay $450 million to settle accusations that it had tried to manipulate key interest rates to benefit its own bottom line.
The resignation comes as Barclays tries to limit fallout from the case, which is part of a broad investigation into how big banks set certain rates that affect borrowing costs for consumers and companies. Since striking a deal with American and British authorities last Wednesday, the Barclays management team has faced increasing pressure from politicians and shareholders to take action.The rate, Libor, is currently set based on submissions from a number of the world’s largest banks about how much it would cost them to raise money in the capital markets. Such benchmarks are used to help determine the borrowing costs for $750 trillion worth of financial products, including mortgages, credit cards and student loans

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s