Barclays Chairman Resigns Over Rate-rigging Scandal

After a devastating blow to Barclays PLC (NYSE:BCS) (LON:BARC) reputation due to interest rate-fixing scandal, the bank's chairman Markus Agius resigned today. Chief executive Bob Diamond, too, is under immense pressure to quit.

Barclays admitted that it has attempted to manipulate the setting of London Interbank Offered Rate (Libor), which is the benchmark to set prices of derivatives and other financial products worth $350 trillion. The documents released by US authorities could drag Bank of England  as well in the case. Th details point to a conversation between Bob...