The FT reports:
Bob Diamond has decided Barclays must increase its risk appetite amid internal expectations at the bank that a key measure of its profitability will fall or stay stagnant this year.
Barclay's new chief executive is considering increasing the bank's risk profile, in order to hit profitability targets over the next three years, according to people familiar with the bank's thinking.
What does this mean?
In plain language it means Bob Diamond is plannign to screw us all.
Risk in banking terms means, quite simply either charging us more or pushing the whole banking edifice nearer the precipice of another global crash knowing that governments underwrite their upside.
If ever there was reason why the UK's Banking Commission should demand the break-up of banks such a message from Bob Diamond provides all the justification needed.
Thanks for reading this post.
You can share this post on social media of your choice by clicking these icons:
You can subscribe to this blog's daily email here.
And if you would like to support this blog you can, here:
Not just Barclays but the whole sordid lot of them including the mega corrupt Royal Bank of Scotland plc.
Break them up?
We vote for that.