Daily Archives: July 4, 2012

Andrew Hill

Bob Diamond arriving to give evidence to the Treasury Select Committee on interest rate fixing. Getty Images

Bob Diamond arriving to give evidence to the Treasury Select Committee on interest rate fixing. Getty Images

Bob Diamond’s keenly awaited appearance before the Treasury select committee promised much and has so far (it was still going on when I broke off to write this post) offered very little for those seeking to know more about the Libor rate-fixing scandal.

But I think the former Barclays chief executive’s responses have shed light on one puzzle: how did the bank underestimate the public revulsion to the outcome of the investigation so badly? The short answer: the bank thought it would receive more credit in the court of public opinion for having helped expose the mess. Read more