Sunday, September 12, 2010
Barclays’ chief: investment banks ain’t casinos. For sure.
As The Telegraph reported: "Bob Diamond, the new chief executive of Barclays Bank, has turned on critics of "casino banking" saying that the use of the term "has no basis in reality" (http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/7996559/Barclays-Bob-Diamond-says-casino-critics-have-no-basis-in-reality.html). Mr Diamond is right. Such use of the term is an insult to casino owners. As Pytel showed in his brief comment to Vince Cable it is a "perverted casino banking".