Continuing the coverage of the U.K.’s largest banking institutions revealing their financial positions, which has included RBS , HSBC , and Lloyds so far, this short post will use the financial report from Barclays, which was released today , to make a point about a theme that is developing amongst the most important banks around the world. During a report on the release of the figures, Barclays’ Chairman, John McFarlane, stated that although the results were very good for the bank, it still faced challenges because ‘ a number of potentially material legacy conduct matters need to be resolved at acceptable cost ’, by which he is referring to a number of investigations by regulatory bodies in to the bank’s conduct surrounding the Crisis. For this post, the focus will be on this continued use of the word ‘legacy’, which denotes a different era to the current era of banking – the issue for this post is that the era in question was only 10 years ago, and multiple infractions continue ...