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In a masterstroke invoking memories of the very best from the Ratner Scool of PR, and vetted by the Department of Stupid, Barclays today disappointed on earnings, announced it was tinning 12,000 employee’s but lifted the bonus pool at the investment bank by 13%. Westminster and the press are going to have a field day with this and to be fair, so they should. It’s a good thing no one enquires about the basic salaries round there; I think the Guardian readers would spontaneously combust but then again, the whole thing is anyway, a huge embarrassment to us all.  

The real men who spent generations building the Barclay’s International franchise in far flung corners of the Empire and the men of the Barclays Bank branches who spent careers building trust on the High Streets of Britain must be weeping at their fallen legacy.