No bank should take taxpayer cash, says Barclays boss

No bank should ever receive taxpayer money and strong banks are in favour of strong regulation, the incoming head of British bank Barclays Plc said on Monday.
"No bank should ever, ever receive taxpayer money," said Bob Diamond, who is head of the Barclays Capital investment bank arm and due to take over as group chief executive next year.
Barclays avoided taking direct taxpayer funds during the financial crisis, instead raising billions of pounds from investors in the Middle East and elsewhere. Rivals Royal Bank of Scotland and Lloyds both needed the UK government to step in with multi-billion-pound bailouts.
Diamond said at the Confederation of British Industry's annual conference that "strong banks want strong regulation", as debate rages about how far regulators should clamp down on the industry after the crisis.
Banks will need to hold far more capital than in the past under new global rules, and countries such as Britain and Switzerland may force their banks to hold additional cushions.