obert Diamond, the chief executive of British banking giant Barclays, stepped down Tuesday, the latest and largest casualty of a global scheme to fix interest rates. Barclays Chairman Marcus Agius announced his own departure on Monday. Barclays, Britain's third-largest bank, was fined $453 million by U.S. and UK regulators for its role in the scandal; about a dozen other banks are still under investigation. "The external pressure placed on Barclays has reached a level that risks damaging the franchise — I cannot let that happen," Diamond said in his resignation statement.
THE WEEK'S AUDIOPHILE PODCASTS: LISTEN SMARTER
- 31 TV shows to watch in 2014
- Attack of the invasive species
- He said he was leaving. She ignored him.
- Why atheism doesn't have the upper hand over religion
- 14 wonderful words with no English equivalent
- What would a U.S.-Russia war look like?
- Which states get screwed worst by the Electoral College?
- These stunning travel photos remind us that we're all just amateurs with iPhones
- How Captain America won over China
- The world's dumbest idea: Taxing solar energy
Subscribe to the Week