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Bob Diamond: “No one is more upset than the strong banks at the mess the system got into” |
Judge James Peck gave headline writers a gift last month by describing Barclays’ president, Bob Diamond, as coming across as “evasive”. Diamond, testifying in a federal court in Manhattan over the UK bank’s purchase out of bankruptcy of Lehman Brothers’ US brokerage business in 2008, had asked to be allowed to respond at length to detailed questions over mismatches in the cash consideration Barclays paid for Lehman versus the value of its collateral and whether or not the acquisition was immediately capital accretive.
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