Barclay's Diamond Goes M.A.D. Over Lie-borgate Details

Tyler Durden's picture

It's escalating. Following the resignation of Barclays' Chairman this morning, the government announced a twin probe into the Libor system and banking standards; and Bob Diamond (Barclays CEO) is threatening, according to the FT, to reveal potentially embarrassing details about Barclays' dealing with regulators if he comes under fire at a parliamentary hearing on Wednesday over Lie-borgate. Unlike his almost-namesake Jamie Dimon who suffered through the indignity of a congressional probing, Bob has gone all Mutually Assured Destruction with confrontational tactics that could further aggravate the fraught relations between the bank and the authorities. "If he is attacked, he will fight back" seems to be well understood and the key aspect - as we have pointed out - is that if this is pursued too vehemently then the whole house of cards could come down as [regulators and politicians] "likely knew perfectly well those rates were not the ones where banks were prepared to lend to each other". So much was made at the time of several of these short-term liquidity measures as indicative of 'no' stress to the ignorant investing public when credit market participants were well aware of the state of reality - perhaps it is worth a glance at the current levels of Lie-bor (especially relative to EUREPO and CDS curves) to get a sense of just what could happen if the truth was ever allowed out into the public eye. M.A.D. indeed.

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
zorba THE GREEK's picture

Now this is getting interesting. Time to break out the popcorn.

ghengis86's picture

If by 'popcorn' you mean ropes, lamp posts, bankers and regulators, then yes, let's break out the fucking 'popcorn' and have ourselve as a party!

BoNeSxxx's picture



Methinks the banker scum are reverting to what they know best... the Law of REALLY Big Numbers.


The stack of crimes is sooooo f'ing deep at this point, I am losing track of them all... I've even partially forgotten about Corzine.


Thank the stars for Tyler Durden and his (their) relentless heat.

CrazyCooter's picture

Shamelessly off topic ... I am trying to discuss a political football with some friends on a political mailing list (libs, cons, preppers, etc). All acquaintances from my engineering background.

I am coming up blank on the event where Europe dumped grain in the sea, to boost prices, while people were starving. Prices tanked anyway. I don't think the event had a wiki, I think it was part of a deflationary financial collapse. I want to peg the time frame to the French Revolution, but I think that is wrong.

I googled for a while, came up empty. I obviously have some facts wrong, so looking for accuracy/sources. Wiki would be ideal

Thanks for sharing, please continue down thread like I didn't but in here like an uncouth arse. It is for a good cause!



CvlDobd's picture

Also shamelessly off topic. My youngest brother is talking about dropping out of college to join the Army Rangers. I keep telling him there is nothing about this country worth dying to defend. If he were talking revolutionize I could get behind him but not defending our corrupt asshole, bankster paid, "leaders".

Obviosuly I could have him read every ZH article but that wouldn't do it. Anyone know of a concise resource (say one or two page pamphlet) that outlines why everything is shit here and not worth dying for? I hate our leaders and everything they stand for. The only thing that could make me hate them more is them deceiving a family member (and a close one at that) and he dies defending a long dead constitution.

I'm desperate to open his eyes but so far he is resisting. He does go to church sometimes, so perhaps his critical thinking skills just aren't that sharp. lol


LetThemEatRand's picture

I don't agree with your general premise that our country is not worth fighting for, but here is an excellent 3 minute video about the reality of joining the military from an insider.  It explains that joining the military today has little or nothing to do with fighting for your country.


CvlDobd's picture

Thanks friendo.


He sums up the reasons I don't think it is worth fighting for (essentially modern day wars have nothing to do with American freedom) via traditional armed forces outlets.


I know I made a blanket statement. There are always a few good things worth fighting for but IMO we are generally fucked and defending the scraps of a once good idea is somewhat pointless.


Thanks again for the video, I'll email it to him.

LetThemEatRand's picture

We just need to take it back from the multi-national corporations.  That's worth fighting for. 

CvlDobd's picture

Yep, see my revolution comment in prior post. :-)

LetThemEatRand's picture

Peace, man.  We're smarter than them.

Short Memories's picture

GONE !!!!

Bob diamond is outa there!! wohooo


The Big Ching-aso's picture



Mutually Assured Disgustedness.

green888's picture

Ask him one question "If the circumstances arose that he was ordered to fire on protesters, would he shoot ?" You are at the front of the protest

WhiskeyTangoFoxtrot's picture

Thanks for sharing. It's not that America that's not worth fighting for, per se, but joining the military to rush headlong into fighting for interests that undermine our freedoms. There are lots who will fight, but it won't be for the established interests. 

SomebodySpecial's picture

Wait just a minute...if there was any time in the last 200 years that we need good people in the is now.

The revolution will happen.

We will need the military to join in. It's our only hope!

For TPTB...just call it the fuck factor.

Totentänzerlied's picture

Yes, that sentiment has worked so well for Egypt and every other place it's been tried in human history.

Cursive's picture


Just have him google "Pat Tillman" or watch "The Tillman Story," a 2010 documentary.  Pat Tillman gave up everything in the service of his country and the military openly lied about the circumstances of his death by "friendly fire."

Full disclosure:  I haven't seen the movie.  It also wouldn't hurt to have him google Blackwater, Halliburton + Iraq + logcap or Bechtel + Iraq + logcap

CrazyCooter's picture

Smedley Butler. War is a Racket.

If he is going to join to blow shit up and kill people, have him be a Marine. I did the Army, and with all respect to my fellow soldiers, Marines are the shit for a brotherhood in this department.

Look, the Rangers are bad ass. All the services have their special/elite groups. These men are way beyond what I did in the military. I got family that were Rangers. But I also got family that were Marines.

As a generalization, I served with Army and I didn't care for some of the ... quality. I also served with Marines. I was always impressed with their discipline, even for those who were not in combat MOS's.

My opinion for your family members is based on this perspective.

I don't think I am helping your situation though; just finding your family member the best pack of sheepdogs. And, well, lets face it, if you are gonna look for trouble, you want to be part of the best team around.

On that note, perhaps you should ruminesce on "On Sheep, Wolves, and Sheepdogs" by Dave Grossman. There is also a book, "On Killing".

Don't live someone else's life; think carefully. Be educated about violence and share knowledge about the honorable paths of a warrior in society. Before you live someone else's life, accept that you don't have to sleep with the outcome of their lives because they do and your happiness may very well be their hell. We need our (honest) cops, we need our troops; the world is a very brutal place.

I think the nature of my response demonstrates my understanding of the political nature of our military deployments, so spare me that line of rebuttal. Check your hippie at the door, be a brother, be family, but don't be a sheep on these matters. If you share all this reading material, and this family member looks you in the eye and volunteers, he will (hopefully) come home and help a lot of people in his community in his post military career. And that is something of which to be proud.

We need more sheep dogs in this world, that is for damn fucking sure.



CvlDobd's picture



Your paragraph with the bold is well taken. Not trying to be a hippie or a sheep. I'm all for fighting and fucking some shit up if need be. I just can't see the point of our current "wars".


Thanks again.

CrazyCooter's picture

Print the links (or buy the books). My words aren't worth so much on the subject.



horseman's picture

Just to add to your great recommendation, Gen Butler was a two star.  One of the most decorated marines ever, all for combat valor, not the campaign shit the officers get now.  Wrote the book after his retirement detailing the military/indus complex.  This was back in the 30's.  He'd probably be leading the revolution with the crap goin on now.

tbd108's picture

Have him read "Johnny Got His Gun." This is perhaps the most powerful personal anti-war book written in modern times. Many a young man, following reading it, said "screw you" to the people that want to send him off to war so that their investments in foreign lands do well.

lemonobrien's picture

live by the sword, die by the sword.

Cursive's picture

@Crazy Cooter

Try this link:

It seems to make sense. The duc was always in the right place at the right time. He actively whipped the crowds up into mob frenzy. It appears that he deliberately caused the bread riots by buying up all the grain and starving the city of Paris. After the riots, wagons full of spoiled flour were dumped in the Seine because they had been held in storage so long.

Sadly for the duc, he ended up going to the guillotine himself during the Reign of Terror.

For more conspiracy, check this out:

In the spring and summer of 1789, an artificial shortage of grain was created by Illuminist manipulations of the grain market. This produced a famine so intense that it brought the nation to the edge of revolt. One of the leading figures in this scheme was the Duc d'Orleans, the Grand Master of the Grand Orient lodges.

Disenchanted's picture



Ukraine in the 1930s? But there I don't think Stalin was dumping, he was storing the grain. 


Not Europe, but maybe the Bengal famine of 1943??


If I remember correctly there was also some crop dumping here in the USA in The Great Depression times...

ghengis86's picture

The essential English leadership secret does not depend on particular intelligence. Rather, it depends on a remarkably stupid thick-headedness. The English follow the principle that when one lies, one should lie big, and stick to it. They keep up their lies, even at the risk of looking ridiculous


Bringin It's picture

Hence their Iraq War inquiry.  Their Kelly weapons inspector guy turned whistle blower who suicided himself with electodes implanted in his chest inquiry. 

The UK part of the axis has great expertice with white wash. 

putaipan's picture

see you all at the diamond hosted fundraiser for romney....i shit you not!

Acet's picture

I've been living in England for a couple of years and this society has some serious problems.

There is a deeply entrenched, very calcified social division from cradle to grave, with the locals being extremelly sensitive to finding out a person's social position (by the accent, general looks, posture and way of dressing) and things like "old-boys-networks" of contacts being formed between pupils of "private schools" (which then persist throught their lifes: for example all main party leaders in the UK went to Eton) which tie politics to big-corp management.

Then there is this whole English way of interacting with others, especially at the higher social status levels, which to pretty much everybody else in the world just sounds like hypocrisy: to put it simply, the typical Englishman is not at all a straight talker, quite the contrary, they don't say anything that might sound critical and will give compliment to things that are not worthy of compliment (it's the only place in the world were saying "that was nice" means "that was bad" and "that was good" can just as well mean "that wasn't good" - in fact, "excelent" and "wonderfull" might just mean the same as "good" somewhere else, though sometimes they're just being polite).

In other words, hypocrisy is the way of relating to others, especially in the middle-class and higher social levels.

All this is reinforced in school here, were they practice the whole "everybody is a unique flower and should only be given positive feedback" style of education. 

This is not just my opinion, I've heard things like "this is a sick society" from both other emigrants and from Englishmen that lived many years in other countries.


LULZBank's picture

Here you go:

Would help you communicate better and understand English (people).

overmedicatedundersexed's picture

free corzine, free diamond, free Agius  the list is too f'n long.

tooktheredpill's picture

oooo I bet that guy at the FSA is scared.

roadhazard's picture

I have seen the "stack" phenomena in Politics starting with Dubya. When caught in a lie, immediately tell two more. Bankers probably taught them the trick since our system is owned by the banks.

zorba THE GREEK's picture

To reiterate what I posted earlier tonight, there is nothing wrong with the U.S.A.

that 100,000 feet of strong rope couldn't cure. 

CharlieSDT's picture

Put them all in a bag, then when you hit the bag you always know you're hitting the right one.

philipat's picture

"No honour amongst thieves" comes to mind? If the truth all comes out, I'll be breaking out a bottle of Krug. Man.

iinthesky's picture

Just in case:

Five of the biggest banks in the United States are putting finishing touches on plans for going out of business as part of government-mandated contingency planning that could push them to untangle their complex operations.

rocker's picture

That's some pretty heavy stuff iinthesky.  I would have guessed on MS, BAC, C, LM, and possibly JPM.

But hey, let the pillars fall where they should. Most people with money in bank accounts do not understand.

Most, (better than 50% of U.S. banks are insolvent.  Hello America. Wake Up.

Disenchanted's picture




from your link:


The regulators will want to see evidence that the banks can safely resolve their debts and transfer vital customer services and assets to healthy institutions.


= return seed money to origin = "The City"

greenbear's picture

What do Barclays, Blackrock, and JPMorgan all have in common?

tooktheredpill's picture

wow, he has gone! This is a good show.

Seasmoke's picture

well there may be some fireworks in the UK on July 4th

Beevreetr's picture

Finally some truth, maybe.

Unprepared's picture

Nah, I'm sure someone will wake up next morning with his horse's head under his bed sheet.

Rogier's picture

Yup, the truth being that the FSA is as dodgy as the SEC. So what else is new?

Bringin It's picture

Rojier - you got a down arrow!