A U.K. fraud trial of former top Barclays executives highlighted the fears faced by elite bankers as they grappled with a possible government takeover and what that meant for their careers.
Bloomberg News reports that in October 2008, former Barclays Middle East head Roger Jenkins, one of four defendants in the trial, described then-CEO John Varley and former investment bank head Bob Diamond’s panic to a colleague in a portion of a phone call that was read to jurors in London Monday.
"John is scared to death that the government turn up tomorrow morning," Jenkins said in the recording. "And Bob is f---ing paranoid." Diamond was also worried about losing his job, he added.
The four defendants all pleaded not guilty, while Diamond is not accused of any wrongdoing.
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