A bit of a tangent to the Diamond bashing LIBOR thread. Up to now I have been fairly relaxed about the monster wages and bonuses paid to bankers on the basis that the financial industry is critical to the UK economy and you have to pay for top quality. Plus it raises taxes. Leaving aside the fact that Bob Diamond has been paid 100s of millions for effectively selling off the bank to Arabs and overseeing billions of pounds of losses; as a condition of him taking the job, Barclays agreed to pay off his outstanding tax bill of $5.7 million! I can understand owing a few thousand to the Inland Revenue and possibly getting a bit of a bill at the end of a FY, but 5.7 million? Not just does that seem incredible for a self-professed financial genius, but he then had the gall to demand it gets paid off by his new employer! If I owed the IR a vast amount of money, I wouldn't go bragging about it to future employers. What sort of indictment of the banking industry is it that he owned up to owing so much, expected it to be paid for him and staggeringly the heads of one of the world's largest banks decided it was perfectly OK. Something has gone horribly wrong with business ethics!