Bob Diamond, the new ceo of Barclays, says taxpayers should not be burdened with bailing out banks in trouble. Speaking to Members of Parliament, Diamond said regulators should instead wind down troubled banks, adding, “We have to make the system safer and sounder and I think that is about risk management and the capacity to absorb losses.” Diamond also told lawmakers that the U.K.’s largest banks are committed to increasing lending but would not say how much.
Barclays Chief Nixes Taxpayer Bailouts
Bob Diamond, the new ceo of Barclays, says taxpayers should not be burdened with bailing out banks in trouble, reports MoneyMarketing.
January 12, 2011
