See also previous post.
Chancellor of the Exchequer George Osborne today responded to the announcement that Barclay’s CEO Robert Diamond will join chairman Marcus Agius in stepping down, as “the right decision.” But Osborne was quick to add, in response to Labor Party calls for a broader judicial inquiry into wrongdoing at the banks, that finance “is an incredibly important industry. It’s Britain’s largest private-sector employer. What we don’t need is its reputation tarnished, navel-gazing over these scandals. We know what went wrong, now we’ve got to fix it.”