“Strong banks want strong regulation.” That fact has been misunderstood in the wake of the financial crisis, according to Bob Diamond, Barclays chief executive.
“No one has suffered more than those strong banks that have been thrown in the same reputational basket as weak banks”, he said at a panel this morning at the Clinton Global Initiative in New York.
Lady Bracknell would have something to say about the current proclivity of the British high street banks for losing chief executives.
First it was John Varley at Barclays, then it was Eric Daniels at Lloyds and next it may be Michael Geoghegan of HSBC, who has threatened to quit if he is not appointed chairman. Are you sitting comfortably, Stephen Hester of Royal Bank of Scotland?