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Barclays CEO Bob Diamond quits in wake of scandal

Barclays Chief Executive Officer Bob Diamond resigned Tuesday, after the bank had recently come under fire for rigging interbank borrowing rates between 2005 and 2009. The London-based bank was fined $453 million last week. Britain’s Serious Fraud Office is still contemplating whether or not it should pursue criminal charges.

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The people of Twitter took the opportunity to wish Diamond well. (With humor of course.)

https://twitter.com/ReformedBroker/status/220135294006079489

With Diamond out, who’s next? Jamie Dimon, chief executive officer of JPMorgan Chase, is the man held responsible for a major recent trading loss that could be as high as $9 billion.

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Unlike Dimon (for now), Diamond allegedly was in the loop about the false reporting. JP Morgan’s head is simply calling the massive trading loss an oversight.

Diamond cited “internal pressure” to step down and the public is happy to see him go.

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