Lie-More As A Business Model
baselinescenario.com — On Monday, Bob Diamond – the CEO of Barclays, one of the largest banks in the world – was supposedly the indispensable man, with his supporters claiming he was the only person who could see that global megabank through a growing scandal. On Tuesday morning Mr. Diamond resigned and the stock market barely blinked – in fact, Barclays’ stock was up 0.3 percent. As Charles de Gaulle supposedly remarked, “the cemeteries are full of indispensable men.” Mr. Diamond’s fall was spectacular and complete. It was also entirely appropriate.