11 Jan 2011: The Telegraph quotes Bob Diamond, chief executive of Barclays: “There was a period of remorse and apology for banks. I think that period needs to be over”
28 Feb 2012: Jamie Dimon, CEO at JP Morgan, is quoted by the WSJ as saying “We need top talent, you cannot run this business on second-rate talent”
15 May 2012: Washington Post reports that the US Department of Justice is preparing a criminal investigation into JP Morgan’s $2 billion loss. Dimon: “There were many errors, sloppiness and bad judgment”.
27 Jun 2012: US Justice Department releases statement: Barclays admits to misconduct, agrees to pay $160 million penalty.
3 Jul 2012: Barclay’s chief Bob Diamond steps down. Diamond: “I know that each and every one of the people at Barclays works hard every day to serve our customers and clients. That is how we support economic growth and the communities in which we live and work.”
The Independent reports that mr Diamond’s severance package is still under discussion.