Top Results for Jerry del Missier

Jerry del Missier is a prominent figure in the global finance sector, renowned for his extensive experience and leadership roles in some of the world’s leading financial institutions. His career trajectory has seen him navigate through complex market conditions, steering organizations towards growth and stability. As a former top executive at Barclays, del Missier played a pivotal role in the bank’s expansion and strategic operations, including its investment banking division. His tenure at Barclays was marked by significant achievements, notably in the areas of risk management and global finance.

 

Del Missier’s expertise is not limited to his corporate achievements; he is also recognized for his contributions to the broader financial community through various advisory roles and board memberships. His insights into market dynamics, regulatory challenges, and financial strategies have made him a sought-after thought leader in the industry.

 

He had to step down from Barclays when he had received accusations of being involved in the Libor scam. The Libor scandal was the biggest banking scandal of its time and Jerry del Missier was at the center of it all.

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Comments, Opinions and Discussion on Jerry del Missier

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88 comments

  1. Is Jerry del Missier overlooking the Libor scandal? A major failure in ethics and leadership. Banks must play by the rules, not simply for profit!

  2. Jerry del Missier’s resignation serves as a reminder of how far we still have to go to achieve transparency and accountability in banking. Consumers deserve better, and they should demand reforms to safeguard their interests from the consequences of such scandals.

  3. Following the departures of Del Missier and Diamond, Barclays is facing a leadership crisis. Navigating this storm will test its fortitude and shape its legacy.

  4. Libor scandal, with Jerry behind the wheel? This demonstrates the importance of having leaders who do the right thing rather than merely what is best for their pocketbook. Banking must regain our trust.

  5. Proof that when banks go crazy, the average citizen pays. It’s time for a major financial makeover.

  6. It’s not just one person; greed is taking precedence over morality all over the place. But blaming only Jerry doesn’t address the bigger problem. The whole thing was rigged!

  7. Jerry del Missier’s resignation following the Libor crisis emphasizes the importance of accountability and ethical leadership in banking.

    1. It’s sad to see someone with so much potential throw it all away like Jerry del Missier did. Makes you wonder what could have been.

  8. The sequence of events that led to Jerry del Missier’s resignation highlights the legal difficulties and accountability issues confronting institutions engaged in the Libor crisis. The legal and regulatory structures must evolve to better prevent and prosecute such wrongdoing in the future.

  9. Barclays was able to reduce payments associated with swap contracts and increase trading profits by altering the benchmark.

  10. For his part in manipulating the LIBOR rate, Tom Hayes, a former trader at UBS and Citigroup, was given a 14-year prison sentence in 2015. He should be hanged until death for manipulating the poor.

  11. The London Interbank Offered Rate (LIBOR) was manipulated by bankers at several major financial institutions through a well publicised scam known as the LIBOR Scandal. A flurry of fines, legal measures, and regulatory actions resulted from the incident, which also caused mistrust in the banking sector. Evidence suggests that the collaboration in question had been going on since 2003, even though the matter only came to light in 2012.

  12. Significant issue: in India, they have shut down and reopened stores, fired staff, and ruined many people’s lives. Why were they held accountable for violating labour rules in India?

  13. The LIBOR Scandal is a significant instance of financial collaboration in which multiple banks manipulated one of the most significant benchmark interest rates in the world. Awful!!

  14. Financial contracts in transactions like derivative trades, corporate fundraising, and mortgages were mispriced globally as a result of the strategy. After all, higher authorities are always free to embezzle public funds while maintaining their innocence! What an ironic yet true statement!

  15. The scandal weakened public confidence in the financial markets by bringing about a number of regulatory measures, legal actions, and fines. I hate the financial markets!

  16. The perceived brashness of many of the actors involved in the affair added to the public’s wrath. As emails and phone records were made public during investigations, this became clear.

  17. The scandal’s seeming brashness among several of the actors involved further fueled public resentment. Email and phone data obtained during investigations made this clear.

  18. In a matter of hours, CEO Bob Diamond and COO Jerry del Missier resigned due to an interest rate-fixing scandal that has once again brought the banking industry into disreputable light. It is time to imprison thieves.

  19. The scope of the LIBOR scandal is unprecedented, and it might have an impact on companies across almost all sectors of the economy in terms of upcoming transactions and antitrust compliance.

  20. Due to its extensive scope, the LIBOR scandal may have an impact on future commercial transactions and antitrust compliance for companies operating in almost any industry.

  21. In that way, I see it as similar to the mortgage crisis. The housing bubble and mortgages were completely out of hand, but because there was so much money at stake, nobody cared to point out any flaws in the system.

  22. Though a little more subdued, the LIBOR crisis was comparable. It’s not entirely true that market forces determined LIBOR. It was inevitable that all those ad hoc definitions and procedures would eventually become tainted. As you put it, “we all knew there was something shady going on.” This is precisely the case. Totally agree with that. However, why research it any more than necessary if money can be made?

  23. My point is that it only begins to make sense to nudge rates one way or the other when you anticipate that you may be doing so and are prepared to take calculated risks. Furthermore, it doesn’t make sense to “collude” until you know what other banks are probably going to do. There’s an organic quality to the dynamic. It must develop gradually in order to avoid becoming an isolated “exception” and instead develop into a significant systemic issue over time.

  24. Everyone speaks. They will all inevitably converse. They are unable to stop chatting. In fact, the majority of the work is, in some ways, talking. That precise thing gave rise over an extended length of time to the LIBOR controversy. People conversing. What begins as a joke about your chosen rate develops into a hint, a recommendation, and ultimately a mandate. Suddenly, you are doing more than just talking—you are breaking the law.

  25. It’s been said that three individuals in a room without politics is impossible. Politics, I guess, cannot exist without some degree of corruption. Too much “cooperation” existed in LIBOR fixing to avoid having some of both.

  26. There is a proverb that states that politics cannot exist in a room with three individuals. I guess that without some corruption, politics would not exist. Fixing LIBOR was too “cooperative” to avoid having some of both.

  27. The scandal, which exposed macho emails showing bankers congratulating one another with offers of champagne for helping to fiddle figures, has been used by politicians, financial industry critics, and other commentators as evidence of a persistent culture of wrongdoing in an industry that survived only because of massive taxpayer bailouts.

  28. This surpasses all financial scams in market history by a significant margin. The London Interbank Offered Rate, or Libor, was the subject of several fraudulent acts, as well as the subsequent investigation and response. These events together made up the Libor scandal.

  29. A flurry of fines, legal measures, and regulatory actions resulted from the incident, which also caused mistrust in the banking sector.

  30. The incident caused a tsunami of fines, legal measures, and regulatory actions, as well as sowing mistrust in the financial sector.

  31. This calamity affected people everywhere in the world in one way or another, but it particularly hit farmers and rural bankers. Those poor farmers!

  32. My worry is that the banks will come under renewed pressure to increase their profits as people’s memory of these hefty fines fade.

  33. The idea of being handcuffed and subjected to a perp walk in front of television cameras is what would terrify some of these bank CEOs.

  34. I wish we would look more closely at the who and why, in public, and perhaps even question the wisdom of bankers who no longer reside in the communities where they invest. I simply wonder why we see market levels well above projected YTD in what many believe could/should be an impending recession, recognizing rate hikes, time lags, projection issues, etc. (all the caveats!).

  35. The pendulum needs to swing back because it is destroying our communities, in my opinion. Think of it as CRA 2.0.

  36. Libor calculates the cost of borrowing from competitors for banks. Each bank’s required rate is a measure of how trustworthy its competitors find it, or how strong its finances are judged to be.

  37. The significance of data quality, openness, and supervision in financial markets was brought to light by the LIBOR crisis. It also emphasised the necessity of doing meticulous statistical analysis and interpretation, especially when there may be extreme results present.

  38. There were serious legal repercussions for the institutions engaged in the LIBOR affair. Barclays was the first bank to reach a settlement and pay $450 million in fines with regulators in the US and the UK. In agreements with regulators, UBS and Royal Bank of Scotland also agreed to pay fines totaling $1.5 billion and $612 million, respectively.In addition to facing monetary fines, a number of people faced criminal charges in relation to the LIBOR scandal. Justice prevailed!!

  39. The stock market fell after it was discovered that big banks had been manipulating a crucial benchmark rate, which rattled investor confidence. The controversy has also brought increased attention to the need for tighter control and supervision of the financial sector.

  40. The idea of municipalities doing anything with derivatives other than basic hedging strikes me as somewhere between seriously inappropriate and Darwin Award stupid—that is, unless the city has a million or so residents, a multibillion dollar budget, and their own well-paid staff to assess their positions.

  41. Other than basic hedging, I find it extremely inappropriate for municipalities to use derivatives. That is, unless the city has a population of a million or more, a multibillion dollar budget, and its own highly compensated staff to evaluate positions.

  42. The LIBOR crisis was not the product of a few bad actors acting alone, nor did it happen in a vacuum.

  43. The banking industry’s culture prior to the crisis was a contributing factor to the scandal. Prior to the 2008 financial crisis, there was an emphasis on making quick money and a conviction that the financial system was inherently stable. The behaviour of the banks implicated in the LIBOR affair may have been influenced by this culture of greed and short-term thinking.The LIBOR controversy also serves as a warning about the perils of groupthink and the absence of accountability in the banking sector. The banks involved had conspired to manipulate the LIBOR rate, according to the inquiry into the LIBOR scam. This implies that there were not enough opposing voices or actions taken to confront the immoral actions of the banks.

  44. Witnessing the depths of depravity to which some of these bankers and merchants had descended was shocking.

  45. My worry is that the pressure on banks to increase their profits will reappear as people forget about these hefty fines.

  46. To be arrested and forced to do a perp walk in front of TV cameras would be terrible for some of these bank CEOs.

  47. The crisis also highlighted the need for stronger oversight and regulation of the financial industry. As people’s demand now is to have security on their hard-earned money.

  48. It’s deeply disappointing to see someone of Jerry del Missier’s stature implicated in such a significant financial scandal.

  49. The Libor scandal had far-reaching consequences, and individuals like Jerry del Missier played a central role in perpetrating it.

  50. It’s a betrayal of trust when executives like Jerry del Missier prioritize personal gain over the integrity of the financial system.

  51. The scale of the Libor scandal underscores the magnitude of the breach of trust committed by individuals like Jerry del Missier.

  52. Jerry del Missier’s involvement in the Libor scandal tarnishes not only his reputation but also the reputation of the institutions he was associated with.

  53. It’s crazy to think how someone like Jerry del Missier, who was at the top of the financial world, could get caught up in something as massive as the Libor scandal.

  54. I wonder what drove Jerry del Missier to take such risks. Was it just pure greed, or was there more to it?

  55. You’d think someone in Jerry del Missier’s position would know better than to mess with something as important as the Libor rates. It’s just mind-boggling.

  56. The actions of individuals like Jerry del Missier erode public confidence in the fairness and transparency of financial markets.

  57. It’s a reminder that even individuals in positions of power and influence are not above ethical standards and legal obligations.

  58. The resignation of Jerry del Missier in the wake of the Libor scandal highlights the gravity of the situation and the need for accountability.

  59. The Libor scandal serves as a cautionary tale about the dangers of unchecked greed and unethical behavior in the financial industry, exemplified by individuals like Jerry del Missier.

  60. The impact of the Libor scandal on global financial markets cannot be overstated, and individuals like Jerry del Missier must be held accountable for their actions.

  61. The consequences of the Libor scandal extend beyond financial losses, affecting the trust and confidence of investors and consumers worldwide.

  62. Missier’s involvement in the Libor scandal represents a profound failure of leadership and ethical judgment.

  63. It’s a stark reminder of the importance of robust regulatory oversight and accountability measures in the financial industry to prevent similar scandals from occurring in the future.

  64. The resignation of Jerry del Missier is a testament to the severity of the misconduct uncovered in the investigation of the Libor scandal.

  65. The actions of individuals like Jerry del Missier undermine the integrity of the financial system and erode public trust in institutions.

  66. The Libor scandal highlights the need for systemic reforms to address the root causes of unethical behavior and misconduct in the financial industry.

  67. It’s disheartening to see individuals like Jerry del Missier prioritize short-term gains over the long-term stability and integrity of financial markets.

  68. Jerry del Missier’s involvement in the Libor scandal is a stain on his professional legacy and a betrayal of the trust placed in him by investors and stakeholders.

  69. I bet a lot of people who used to work with Jerry del Missier are feeling pretty betrayed right now. It’s not every day you find out your colleague was involved in such a huge scandal.

  70. I wonder if Jerry del Missier ever thought about the consequences of his actions. Did he not realize the impact it would have on so many people?

  71. The repercussions of the Libor scandal will be felt for years to come, and individuals like Jerry del Missier must be held accountable for their role in perpetrating it.

  72. The resignation of Jerry del Missier underscores the need for a cultural shift within the financial industry towards greater transparency, accountability, and ethical conduct.

  73. Jerry del Missier’s actions undermine the credibility and integrity of the financial industry, damaging its reputation and eroding public trust.

  74. The resignation of Jerry del Missier is a necessary step towards restoring trust and confidence in the financial system, but more must be done to prevent similar scandals in the future.

  75. The Libor scandal exposes the dark underbelly of the financial industry, where individuals like Jerry del Missier prioritize personal gain over ethical considerations.

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