Mr. Diamond’s top deputies told employees in 2007 and 2008 to report artificially low rates in line with those of rivals in an effort to deflect scrutiny about the bank’s health at the height of the financial crisis, according to the people, who spoke on condition of anonymity because they were not authorized to speak publicly.
Barclays declined to comment about the involvement of senior executives.
Mr. Diamond’s resignation comes after the settlement that Barclays reached last week with American and British authorities. The deal is one result of a wide-ranging inquiry into how big banks set certain benchmarks, including the London interbank offered rate, or Libor.
I'll miss his cameos on the Golf Channel around Playoff(C) time.
**The Guardian's live blog has a pretty incredible run-down of how the resignation unfolded and also includes odds on the next likely CEO. They are also betting on where Diamond lands. I just want to know if he'll get invited back to the AT&T National Pro-Am now?