Bob Diamond Clings To Life.

Bob Diamond has declared today that he will not resign and continues to insist that being a criminal or simply an incompetent is not grounds to part him from his £17 million a year. The manipulation of the Libor was the reckless action of a "small number" of employees and had nothing whatsoever to do with him. As for the £17 million a year, that is simply the sort of money that is needed to retain the services of a man who has no idea how a bank should actually work or what the people who work for him actually do. The Murdoch defence is certainly becoming very fashionable this year. His defence strains credibility but no more than his insistence that people like him are worth every penny they're paid. But what does strain credibility to the breaking point is his belief that we will swallow any self-serving tosh he cares to dole out. The arrogance of people like Mr.Diamond naturally knows no bounds, but it is their imbecility that really impresses. Who are these masters of the universe who cannot even master their own staff or the businesses they think they run and why are they paid so much for actually doing so little? Are they nothing but plausible conmen whose only real talent is that they can talk a good fight? Yes, apparently.