A chill wind continues to blow through the disgraced banking sector, the latest manifestation being the punishment of grubby Barclays, headed by very well paid Bob Diamond, for exploiting a legal tax loophole to avoid paying millions in corporation tax. The loopholes are being closed by HMRC, themselves vilified and mistrusted by the public for the curious sweetheart tax deals they made with Goldman Sachs and Vodafone.

This provides yet another example of where a large company would have done rather better to have listened to their PR people, rather than their lawyers and accountants. And one from a sector that has demonstrably lost its moral compass.

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