By Quentin Langley
Acccording to SkyNews, shares in Barclays Bank have been up to 17% down during the course of today. Other banking shares have been hit. This is all because of a fine against Barclays for market-rigging and suggestions that other banks may have been involved. The Leader of the Opposition has called for criminal prosecutions. While that may be premature, if evidence emerges to justify prosecutions they may indeed follow.
This blog does not have any particular insight to the LIBOR rate nor the legal situation. There are other specialist blogs which will no doubt comment. Brandjack News comments on crisis management and social media. On this issue, Barclays has (so far) failed pretty badly. Keeping your head down and hoping that the issue will go away seems rather unlikely to succeed, especially if they anticipate that there is more to emerge.
Barclays has adopted the Argyll and Bute Council approach to crisis management. That didn't exactly work out well.
Brandjack News 
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