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MPs slam Diamond

MPs slam Diamond
MPs have strongly attacked former Barclays chief executive Bob Diamond for his “highly selective” evidence when he appeared before Parliament to discuss the Libor rigging scandal.

This morning the committee chair Andrew Tyrie said Mr Diamond had not been accused of lying, but was “somewhat misleading” in his evidence. Mr Diamond said he is "disappointed" with the claims, and that he gave truthful testimony, adding "I categorically refute any suggestion to the contrary."

In its report into the affair, the Treasury Select Committee criticises the "great damage" Barclays’ “disgraceful” behaviour has had on the reputation of the UK’s financial services sector.

Mr Tyrie also attacked Sir Mervyn King for his intervention which precipitated the resignation of Mr Diamond.

He told the Today programme: “He intervened, in the view of the committee, pretty arbitrarily into this. The fact that many people might agree with what he did in this particular case doesn’t mean that that’s the way he should carry on generally."

The bank was fined £290m for fixing its submissions to the Libor rate, prompting the creation of a Parliamentary commission to look into the issue.

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