How the mighty Barclays has fallen

The damage to the bank's reputation has had one good result: strong regulation of the sector is now much more likely, writes Ben Griffiths in London.

Bob Diamond, former Barclays chief executive, outside the Houses of Parliament in London last week. Photo: Getty
Bob Diamond, former Barclays chief executive, outside the Houses of Parliament in London last week. Photo: Getty

The reputation of Barclays is in tatters after the institution, established by Quakers in 1690, was labelled a "rotten, thieving bank" last week. Under former chief executive Bob Diamond, Barclays was accused of losing sight of its three founding principles: honesty, integrity and plain dealing.

The criticism came as Diamond was being grilled by MPs on the influential ...