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Monday, July 2, 2012

Barclays: Riddled with Conflicts of Interest

Lest it be presumed that no harm to society can come from having Wall Street bank CEOs such as Jamie Dimon (of JP Morgan) on the New York Fed’s board of directors, Marcus Agius, the former chair of Barclays who resigned after his bank agreed to pay $450 million to settle accusations of rate-setting, was also the honorary chairman of the Bankers’ Association of the state of Britain in the E.U. That association oversees one of the key rates in question, the London interbank offered rate, or Libor.

The full essay is at Institutional Conflicts of Interest, available in print and as an ebook at Amazon.