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Sir Mervyn King Criticised for Role in Bob Diamond Exit

The influence that Bank of England governor Sir Mervyn King had in forcing out Bob Diamond as chief executive of Barclays illustrates the need for tougher oversight of the central bank, a powerful committee of MPs concludes in a report on the Libor-rigging scandal.

Bob Diamond's Resignation: The Late Exchanges That Led to His Demise

Bob Diamond

On Monday afternoon Bob Diamond rehearsed for his planned appearance before the Commons Treasury select committee. As his public relations team ran him through question after question that the MPs were likely to fire at him, the American born banker saw that he – and his brash personality – was the main problem facing Barclays bank.