Implode-o-Meter News - Barclays 'Deeply Flawed,' Bank of England's Involvement 'Difficult To Justify': Parliamentary Report

``Few emerge unscathed from the Treasury Select Committee's 300-page report and annexes, based on a string of high-profile hearings after Barclays was fined a record $453 million on June 27 for manipulating the London Interbank Offered Rate or Libor.
"Such behaviour would only be possible if the management of the bank turned a blind eye to the culture of the trading floor," the report said.

"The standards and culture of Barclays, and banking more widely, are in a poor state," it said, adding it was unlikely the bank acted alone.''

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Barclays 'Deeply Flawed,' Bank of England's Involvement 'Difficult To Justify': Parliamentary Report