Where do Banks Stand after Damaged Reputation

The transcript discusses the resignation of Bob Diamond and its symbolic impact on the banking culture in London. It explores the potential consequences for other bank executives like Stuart Gulliver and Stephen Hester, amidst ongoing investigations into Libor rate manipulation. The secrecy surrounding these investigations leads to speculation about the involvement of other banks. The issue is seen as having global implications, affecting the credibility of the UK financial sector. The future of banking is uncertain, with both banks and regulators facing challenges in rebuilding trust and establishing new models.

What does the resignation of Bob Diamond symbolize in the context of the banking culture?

How has the investment banking culture been described in the text?

What concerns are raised regarding the future of other bank executives in light of the investigation?

In what way is the credibility of the UK banking system at stake according to the text?

What actions are suggested to restore confidence in the banking industry?