Live Webcast Of Bob Diamond Testimony On Lieborgate

Tyler Durden's picture

UPDATE: *BARCLAYS SAYS HAS RECORDING OF DIAMOND, TUCKER CALL, SKY SAYS

We suspect the Treasury Select Committee hearing with Barclays ex-CEO Bob Diamond will have a few more fireworks than Jamie Dimon's congressional hearings. The Chairman of the committee noted "This is the most damaging scam I can recall" as the goal of the hearing is to ensure "the public know what went wrong and whether the perpetrators have been rooted out." While we will have our own fireworks on this side of the pond, we suspect the live stream below will contain more than a few as the independence of Libor remains in question.

 

Meeting details

Wednesday 4 July 2012, 2.00pm (9am ET), Wilson Room, Portcullis House

Witnesses

Bob Diamond

Commenting on the evidence session, the Chairman of the Treasury Select Committee, Andrew Tyrie MP, said:

"The Libor interest rate benchmark - crucial to transactions right across the economy and affecting millions of people - was systematically rigged over a period of years.

 

It appears that many banks were involved and Barclays were the first to own up.

 

This is the most damaging scam I can recall.

 

The reputation of Britain's financial services industry has been severely tarnished, albeit unfairly for the overwhelming majority unconnected with the scam.

 

The public's trust in banks has been even further eroded.

 

Restoring the reputational damage must begin immediately.

 

Parliament and the public need to know what went wrong and whether the perpetrators have been rooted out. We also need to be given confidence that this has been put right."

 

Live Stream Here 

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LULZBank's picture

Why arent these guys interrogated CIA style?

i-dog's picture

I'm just wondering how he can keep a straight face while he's lying through the farce!!

GMadScientist's picture

Practice, mother, practice.

Levadiakos's picture

It's a job requirement that he not only be a weasel but his face must be fixed in a replica of a weasel to support the straight faced pantomine

The Big Ching-aso's picture

 

 

Why don't they just skip these hearings & let the public know justice will be meted out behind closed doors?

Treason Season's picture

There's room at the top they are telling you still
But first you must learn how to smile as you kill
If you want to be like the folks on the hill

Working Class Hero

GMadScientist's picture

Because they're in MI6 territory?

The Big Ching-aso's picture

 

 

Obviously the biggest crime here is that someone got caught committing an authorized crime.

WmMcK's picture

Don't give me any of that do goody good bullshit.

slackrabbit's picture

Remeber to bring a barf bag for the bad and a case of beer for the good.

But already you can see the media playing the 'don't blame the bankers they were trying to save Barclays' bullshit - Robert Peston of the BBC is easily the worst; claiming that the traders were valiantly trying to save the bank - wow what bull shit.

 

..and now this guy on Bloomberg....sickening...

EscapeKey's picture

Almost as bad as Krugman's "the bankers are the victims" article.

tony wilson's picture

bbc stooge

robert ffff fucking pp peston is an m16 rothschild bag man.

anything out of his mouth is suspect.

not only is he a compromised turd he is also a closet sodomite.

Desert Irish's picture

Maybe TPTB are now regretting they took away his bonus - with nothing to lose I hope he takes every single one of those fuckers down.

Debtless's picture

The entire industry needs extermination.

Banksters are the root of much of our societal rot.

It should be a value to society, not a tick sucking life from off its nutsack.

 

Zero Govt's picture

Banking by nature will always be shuffling other peoples money around the table, always a tick sucking escapade

the veinest plea of the likes of JP Morgan is they loan money to farmers and businesses to expand

some would question why businesses need loans in the first place. It is the bankers credit cycle that blows inflation into the economy and raises purchase prices (see Irish, British, Spanish, US property prices) in the first place

Bankers created the debt-slave economy. The sooner these bloated credit/gambling junkies are put back in their box the sooner society and the economy will heal

Zero Debt's picture

A few other industries need examination too, this is not limited to banking: military contractors, prison, security, medical, pharma, agro, insurance, ...

Debtless's picture

I think there's plenty of public support to start here, then move on.

Atomizer's picture

Bob Diamond: I plea da fif you fucking mindless muppets.

Kit Green's picture

Being a British parliamentary committee there is no fifth. 

In fact it is the opposite, under "parliamentary privelige" Diamond can ignore any gagging orders from junior organisations and tell things how they are (if he chooses to).

Zero Govt's picture

*BARCLAYS SAYS HAS RECORDING OF DIAMOND, TUCKER CALL, SKY SAYS"

Oh, so we have evidence not only of Regulators doing the usual of not regulating...

...but also one step further into the mire, rigging the market with regulated entities against consumers to fleece them

we all suspected Regulators were little more than fronts for Big Bankers to do their dirty work, now we have evidence of their monopolist practices, anti-consumer and anti-free market work

Cdad's picture

Well said...and correct.

ghengis86's picture

History will judge Barclays

I love Barclays

-Bobby D

Cdad's picture

When you are a criminal and you are caught red-handed, the first thing you do, of course, is talk about how great you are, and how much love you have.  Straight from the Handbook for Sociopaths

lizzy36's picture

Let the squirming begin.

Hope he ducks when the pie comes out of left field (a la murdoch).

ghengis86's picture

I don't recall -bobby D

EscapeKey's picture

"Let me re-iterate how sorry I am, and how disappointed I am with some of these behaviours, and let me be the first to say that we were vigilant in eradicating this when we became aware of it."

Slimy fuckwit has clearly spent days in hardcore tutoring sessions with his lawyers.

MeetTozter's picture

Recordings of calls?  Maybe the Murdoch Hacks have a redeeming value?

PMakoi's picture

Thirsty SOB, isn't he?

 

route40misery's picture

Tell tale signs of lying. He keeps fidgeting with his glasses, pouring water, drinking water. I noticed his skin keeps flushing with certain questions. Lying snakes!

GMadScientist's picture

Tell-tale signs of being nervous, one reason for which could be lying.

That being said, these chaps are putting on a good show of chasing the vaseline jellied snake around the linoleum floor.

The bigger tell is that he can't just answer their questions off the cuff and needs to keep "going back" to start at a known context so he doesn't trip himself up in his lies. He's a well--rehearsed liar (couldn't succeed in banking otherwise), but it's obvious that he has a staged "memory" of events not a genuine recollection.

 

Vet4RonPaul's picture

He better drink up now cuz there isn't any water or Bolinger's in Hell.

GMadScientist's picture

Sure there is....it just happens to turn into piss as you drink it.

 

overmedicatedundersexed's picture

mr diamond: "it was other banks doing it worse then us, it was the little people in trading doing bad things that were wrong, as soon as I knew I took action" those damn supervisors did not tell us those trading supervisors I tell ya we gotta get em..

this is one sick sociopathic lying coward.

GMadScientist's picture

Yet another Alzheimer's CEO who earns 8 figures to not know what's happening (yeah right) in his corporation.

I want one of the interrogators to step up and say,

"You're "angry"?! You failed to implement proper internal controls in your company, turned a blind eye to bald-faced malfeasance, and fostered a culture of criminality that would make the mafia blush. You have made a mockery of the institutions of capitalism and pretended that they were a plaything of your own design. You have proven every stereotype about your industry to be exactly the case. You have no bloody idea what angry is, Mr. Diamond."

Put those "few bad apples" up your puckered little butt, Bob.

ghengis86's picture

Can't get those glasses clean either

torak's picture

Much ado about nothing...nothing will happen to any Criminal Executive Officer or any other execs.  Wrist slaps and bygones.  This is nothing by a puppet show for the benefit of the muppets.

LMAOLORI's picture

Wall Street still giving to Obama

http://www.cbsnews.com/8301-503544_162-57465854-503544/wall-street-still-giving-to-obama/

 

And as long as they are you can expect nothing will be done!

Morgan Stanley Got S&P To Inflate Ratings, Investors Say

http://www.bloomberg.com/news/2012-07-02/morgan-stanley-pushed-s-p-to-boost-ratings-investors-say.html

overmedicatedundersexed's picture

mr dimond:" of the 15 banks reporting libor, we were always much higher then 13 or 14 of them, and we knew that many were reporting rates they could not get in the market"..hmmm so other banks were out right lying bastards mr dimond? he is the best of the worst is his answer..LOL

Vet4RonPaul's picture

right on overmed, his defense is - "sure I'm guilty but I'm less guilty than others".  Then he follows with - we knew others were fixing too.  Great defense; guilty, knew others were guilty, but neglected to take a single action over years to resolve the matter.  Nothing but the fucking best in banking; what a bunch of eternally fucked devils for selling their souls.

SWCroaker's picture

U jus don unnerstand "self regulatiing".   Isn't in their "best interest" to.... ah....  you know....   the bad thing.

Honest.

PeaBird's picture

I think that mr. diamond, mr. del missier, mr. agius, mr. tucker, whitehall, the boe & the fed can all make use of this: http://tomarayascream.com/

GMadScientist's picture

Damn, I read that as "To Maraya's Cream". Seasons in the abyss, I tell you, seasons.

doomandbloom's picture

Why are the questions focussed on what Tucker said? What happened to all the fraud prior to that meeting?

doomandbloom's picture

Only 14 out of 2000 traders were bad....rest all were good...

 

pls move along...

doomandbloom's picture

Rest of the 1,40,000 staff doing Gods work....

doomandbloom's picture

Bob was "physically sick" when he saw what the traders had done....about libor...

 

all other harm that the bank unleashed over the past 16 years when he was at Barclays... he was fine...