Strong leaders must choose the right path
Varley was almost immediately embroiled in an almighty row when his own bank turned to Middle Eastern investors to shore up its capital.
In the middle of October 2008, with the world financial system crumbling, the UK bank regulator, the Financial Services Authority, told all British banks that they must raise new capital. It gave them until June 2009 to do so. No one was fooled by this.
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