Quit apologising for financial crisis, Barclay’s boss tells banking industry

BANKS should stop apologising for the mistakes which helped cause the financial crisis, Barclays new boss told British politicians, striking a defiant tone in a grilling over bonuses yesterday.

In a crammed room, American Bob Diamond — one of Europe’s highest-paid executives — declined to say if he would again waive his bonus and would not say how much Barclays would lend to businesses.

“There was a period of remorse and apology for banks and I think that period needs to be over. We need our banks willing to take risks so we can create jobs,” Diamond told the cross-party Treasury Select Committee during questioning.