Feb 28 2012

Does Bob Diamond have a white cat?

Posted by: Nick Shaxson in: Thoughts

Bob Diamond, the CEO of UK multinational bank Barclays (pictured) has been having a hard time lately. And rightly so. His hypocrisy and weasel words are astonishing.

I’m afraid I haven’t got the time to cover this today, other than to point to various useful articles on this, and to note that he certainly does have a Doomsday Machine (click here for more.)

The Financial Times: Barclays has been blocked from implementing two “highly abusive” tax schemes that could have cost the Treasury £500m; yesterday the UK Treasury announced draft legislation to block one of the two schemes.

The Guardian: The UK government was accused of making a “mockery” of its own code of conduct on tax – which 200 banks have signed to promise to comply with the spirit and not just the letter of the law – by refusing to identify the bank that the Treasury claimed would face a £500m tax bill. (Barclays then owned up and said it took its responsibilities as a “corporate citizen very seriously, just as Blofeld would have.) The Treasury has taken the highly unusual steps of taking retrospective action to shut down the “highly abusive” schemes. Participate in a Guardian poll here.

And then a lot of interesting ones from Tax Research:

Sorry for the slightly flippant post, but my time is running out.

one comment

eddie torres 2th February, 2012 8.55 pm

Bob Diamond also famously said, “This organization does not tolerate failure.” And, “Extortion is my business. Go away and think it over, gentlemen. I’m busy.”

Wait, maybe that was Blofeld. Oh, the humanity.

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