Well, that was all a big anticlimax wasn’t it? The incendiary written submission prepared by Barclays, which appeared to spread the blame for fixing the London interbank offered rate to the Bank of England and Whitehall, had led us to expect fireworks from Bob Diamond’s appearance before the UK government’s Treasury Select Committee.

In the end, thanks to less than forensic questioning from the politicians, Diamond was allowed to deliver an extended love letter to the bank from which he had resigned the day before.