The UK Treasury Select Committee has issued its preliminary LIBOR report, slamming former Barclays CEO Bob Diamond, who it accuses of giving 'highly selective' evidence', in the process.
Undaunted, Diamond has hit back with a statement of his own, saying that he was disappointed and strongly disagreed with several of the committee's statements:
'In particular, I strongly challenge certain assertions about my testimony.
'On July 4, I appeared before the Committee voluntarily and on short notice.
'I answered every question that was put to me to me truthfully, candidly and based on information available to me.
I categorically refute any suggestion to the contrary.
'I take particular issue with the attacks on Barclays' culture and character.'
'At the same time, it should be recorded that broader issues with Libor have been a subject of discussion among regulators for years, and there is little dispute that Barclays was both aggressive in its investigation of this matter and engaged in its cooperation with the appropriate authorities.
'Looking forward, it's clear that thoughtful analysis and regulation of issues affecting the banking industry are required and I have no doubt that Barclays is committed to being part of the solution.
'Barclays, one of the only major UK financial institutions that did not need a rescue from the UK Government, is a tremendous institution with an over 300-year tradition of supporting economic growth and the communities in which we live and work.
'I am proud of what we accomplished over the 16 years I was employed there and our prudent management of the institution helped avoid the fates that befell other UK banks in 2009'.
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