Five years and four days after the collapse of Lehman Brothers, the New York City Ballet Fall Gala was a glittering jumble of celebrity (Drew Barrymore, 50 Cent), finery (Chanel, Jar), and economic commentary (Wilbur Ross et alia).
Barclays is off raising £5.8 billion to shore up its capital and the prospectus has a rather awkward disclosure, which is that British regulators are planning to fine Barclays £50 million because the last time it raised a bunch of capital it maybe lied to shareholders to cover up the bribes it paid to Qatari investors to buy its shares.
As 1,100 managing directors from Barclays Capital descended on the Grosvenor House hotel near London’s Hyde Park in late September, they had more to celebrate than having successfully swallowed the North American unit of Lehman Brothers Holdings Inc. two years earlier. Their guy, Bob Diamond , the Massachusetts-born founder of Barclays Capital, had just been handed the top job at parent Barclays Plc in a sign of how he had transformed the 320-year-old British institution in his 14 years as investment bank chief, Bloomberg Markets magazine reports in its January issue.
Hugh E. McGee III, a former Lehman Brothers Holdings Inc. oil banker, fired his gun into upstate New York’s sky last year. Clients and colleagues, who know him as Skip, watched the one duck tagged with a ribbon fall.
Robert Diamond, who quit as head of Barclays Plc last week after allegations that interest rates had been rigged, denied he misled Parliament on relations with regulators and said he’d be willing to discuss the matter again.
If we take Bob Diamond and Paul Tucker at their word, part of the Libor scandal at Barclays Plc can be chalked up to a series of comic misunderstandings, like a children’s game of telephone. It’s a bit much to swallow, but the spectacle sure has been fun to watch.