Simon English: OK, I admit it - Barclays is good for Britain

Simon English

Friday 10 February 2012

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Outlook There'll be good results from Barclays today and warm words from Britain's highest-paid civil servant, chief executive Bob Diamond (don't buy that stuff about Barclays not relying on taxpayer money; it's rot).

Still, for bank bashers everywhere the Barclays results raise an awkward notion.

It is better for the rest of us that banks be unfairly profitable rather than catastrophically loss making.

Mr Diamond and some of his colleagues might be overpaid (scratch the might, they are overpaid) but it's just about possible to see the company as a good thing for Britain, overall. Just. With clenched teeth.

s.english@independent.co.uk

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