Can Barclays weather the storm?

Barclays recently reported earnings of £6.1bn, but it's not out of the woods yet.

Given the damage the banks have caused, the spectacle of the former bosses of HBOS and RBS "being put in the stocks" in front of the Treasury Select Committee was a "cathartic moment in the banking crisis", said The Daily Telegraph. Moreover, there was a juicy subplot to the drama. A highlight of the hearing was the testimony of Paul Moore, a barrister, who was head of regulatory risk from 2002 to 2005.

Being a risk manager was like being in a rowing boat "trying to slow down a supertanker", he said. Having warned that the bank was growing too fast, he was sacked and gagged. Sir James Crosby, a former government adviser and chief executive of HBOS at the time, has now resigned from the deputy chairmanship of the FSA, insisting he didn't ignore risk warnings.

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