He doesn't love everything about the financial reform bill, but he unabashadly says he and his fellow bankers need strong reform and now that they've got at least *some* form of it, they should all be ready to move on and up.
Bob Diamond, President of U.K-based bank Barclays, joined me exclusively on Countdown to the Closing Bell yesterday just as his bank passed the European bank stress tests. In the wake of that breaking news, Diamond told Fox Business viewers that Congressman Barney Frank, Senator Chris Dodd and Treasury Secretary Tim Geithner did a good job and workedmany hours to get what he feels is a decent work of legislation together.
There's a LOT of moaning and complaining by bankers about this bill. Diamond, for now, isn't one of them. He admitted during our interview that he personally lobbied hard to make sure that certain derivatives clauses were removed so that he and his company could continue to make profits.
Let's not forget that certain Wall Street giants took ridiculous bets that most American would NEVER place, lost those bets and then turned to *us* to help them out of a deep, dark hole. Along the way, 8 million jobs were lost. Let's also not forget that not all banks blew it. Diamond is sure to stress how aggravated he is that those who did the right thing are getting painted with the same brush.
If you missed this interview, I really want you to watch the clips below and let me know what you think.