Lookback

What is Barclays doing with iShares? News that leaked early in March had the bank touting for buyers of a business that was simultaneously the crown jewels and overpriced by early guestimates of its potential sale price. Most observers balked at the rumoured price, but they also wanted to speculate about why the bank would want to sell one of the success stories of the current financial crisis.

One look at the state of Barclays and its thirst for capital and the sale makes complete sense, goes