Former Chancellor of the Exchequer Nigel Lawson tells the Evening Standard today that his time as a non-executive director of Barclays Bank “did not convince him” that the bankers always knew what they were doing:
“I did not believe that they truly understood the risks they were running. They had a model that was meant to capture the risk. I certainly didn’t understand it myself but what concerned me was that the full-time top management, I thought, didn’t really understand it.”
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