Well, because he is a man of probity and is writing in the UK, where the standards for libel are much lower than in the US, former Barclays CEO does not use the F (fraud) word, but that is precisely the behaviour he describes.
I know it is fashionable to depict the investment banking industry as ever and always dishonest (as former SEC chairman Arthur Levitt pretty much does today in the New York Times, indirectly), but differences in degree are differences in kind.
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