Mark Carney takes a swipe at ex-Barclays boss Bob Diamond

Feb 26, 2013

'Time for remorse is not over', incoming Bank boss says as he argues it's time to rebuild trust

Getty Images

Incoming BoE Governor Mark Carney (left) and ex-Barclays boss Bob Diamond

THE INCOMING Governor of the Bank of England, Mark Carney, has taken a thinly-veiled swipe at former Barclays boss Bob Diamond by declaring that "the time for remorse is far from over" for the banking industry.

The jibe comes two years after Diamond – once described as the unacceptable face of capitalism by Peter Mandelson - told MPs on the Treasury select committee: "There was a period of remorse and apology for banks - I think that period needs to be over", The Times notes.

During a speech at the Richard Ivey School of Business in Ontario, Canada, last night, Carney said steps to restore confidence in bankers were being "overshadowed" by events such as the Libor rate-rigging scandal, over which Diamond stood down from Barclays.

Carney, the ex-Goldman Sachs banker who will succeed Sir Mervyn King as Governor of the Bank of England in July, said banks needed to "actively" participate in reform and accept their responsibility for the 2008 crash.

The Daily Mail notes he was "most scathing" about the bankers not taking steps to restore public trust.

"Perhaps the most fatal blow to public trust has been the perception of a heads-I-win-tails-you-lose finance," said Carney. "Bankers made enormous sums in the run-up to the crisis and were often well compensated after it hit. In turn, taxpayers picked up the tab for their failures.

"It has been said that trust arrives on foot, but leaves in a Ferrari. After the Ferrari screeched out of the parking lot in 2008, what steps have been taken to rebuild trust?"

Sign up for our daily newsletter