Barclays wants to really emphasize that its employees never fixes Libor rates again apparently, as a top executive at Barclays’ investment bank appears in a film about the lessons the bank allegedly learned from the whole incident. All Barclays employees are now expected to watch the video, which should totally be leaked on youtube so we can grief and make fun of the banks while they slowly get themselves deeper into the quicksand.
The 12 minute video features Rich Ricci, who will read from a teleprompter, since “Libor is so complex”, according to a person who has seen the film.
“This is just silly”, said one Barclays employee that watched the video.
Apparently, many Barclays employees are ex-Lehman people, and are thoroughly skeptical of senior executives and their attempts to repair the image of the bank.
“Good lord. This is just to provide cover so that Ricci can tell the FSA that he made us all watch this film,” one employee said.
To support the comment, Ricci is to meet with British regulators next month, and word is he wants to claim every single employee has seen it.
Story is HERE.
Think of the scenario of the recently single parent that always relied on the nanny to raise the children, and nanny is gone and you’re left with the children, and you have no idea of what foods the children eat, what time they go to bed or what they like to do and your job is to take care of the children. Thus, you get an embarassing and funny outcome.
This is what happens when you have someone that has no idea of how to deal with a crime scandal, and is panicking and doing whatever he can to ease his ego, which is getting terrified of the possible consequences.
I really would want to see the video, it has “troll me” written all over it.