Barclays chief Bob Diamond could be brought before Congress, sources say

[Eugene]

Source: The Guardian

Barclays chief Bob Diamond could be brought before Congress, sources say

Dominic Rushe in New York and Jill Treanor
guardian.co.uk, Wednesday 11 July 2012 18.31 BST

US politicians are considering summoning Barclays' former boss Bob Diamond to Washington to answer questions about the Libor-fixing scandal, in a sign that the controversy is becoming an ever hotter issue in the US.

Two high powered committees, the Senate Banking committee and the House Financial Services committee, are both believed to be considering calling Diamond to testify. The committees declined to comment, but sources close to them said they were in the early stages of gathering information and were almost certain to call the former Barclays chief executive after the summer recess. A spokesman for Bob Diamond declined to comment.

Senator Tim Johnson, chairman of the banking committee, said on Tuesday that his panel would quiz Federal Reserve chairman Ben Bernanke and Treasury secretary Timothy Geithner on the scandal at hearings scheduled before the August break.

"I am concerned by the growing allegations of potential widespread manipulation of Libor and similar interbank rates by some financial firms," said Johnson.

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Read more: http://www.guardian.co.uk/business/2012/jul/11/barclays-bob-diamond-congress

[malaise]

1. Please remember to add host for Rmoney's London fundraiser

[The Magistrate]

2. Hell, Sir, He Can Get Blow-Jobs Elsewhere, One Suspects....

Still, he may perhaps condescend to let some eager Senators take a run at polishing it....

That is about all we could fairly expect from such a summons, if it were heeded by the gracious lord.

[hifiguy]

6. You read my mind.

That was my first thought too. The Repukes are already laundering their knee-pads.

[Junkdrawer]

8. Diamond is pointing the finger at Government (British for now)....

If the Senate could get him to implicate Tim Geithner, a big-stakes election year "What did the President know and when did he know it?" inquiry could be launched.

The timing of this scandal is, well, interesting.

[aquart]

3. For kisses and hugs?

Why do I seem to lack faith?

[nc4bo]

4. oh wow, it'll be like a family reunion wouldn't it?

"Brought in front of Congress" doesn't even mean anything to me anymore.

[2pooped2pop]

5. Where a strongly worded letter MAY be hand delivered to him. n/t

[Ship of Fools]

7. how reprehensible of them.

[WorseBeforeBetter]

9. For the Jamie Dimon treatment?

Ooh, I'm sure he's shaking in his $1,500 Russian calf loafers.