practice ended after The Wall Street Journal published an exposé of the dodge in a front page, column one, article on 30 June 2006 by Carrick Mollenkamp, which ensured that Parliament, the Bank of England, and the UK Inland Revenue and the American Internal Revenue Service would see it and become aware of the scam, and the practice was subsequently outlawed, thus eliminating a major source of income for Barclays. It also resulted in Diamond's reputation being tarnished with Parliament and The Bank of England and the beginning of his being branded "the unacceptable face of banking". Libor scandal investigation In June 2012, Barclays was fined £59.5 million by the FSA (£290 million in total) for "serious, widespread breaches of City rules relating to the Libor and Euribor rates". The bank had been found to have lied, sometimes to make a profit, and other times to make the bank look more secure during the financial crisis. The UK's Financial Services Authority (FSA), which levied a fine of £59.5 million (US$92.7 million), gave Barclays the biggest fine it had ever imposed in its history. The FSA's director of enforcement described such behaviour as "completely unacceptable", adding "Libor is an incredibly important benchmark reference rate, and it is relied on for many, many hundreds of thousands of contracts all over the world." Liberal Democrat politician Lord Oakeshott criticised Diamond, saying: "If he had any shame he would go. If the Barclays board has any backbone, they'll sack him." The U.S. Department of Justice had also been involved in the investigation. Diamond announced on June 29, 2012, that he would not resign over the bank's role in the fraud. Diamond voluntarily gave up his bonus for 2012 but initially maintained that he would remain as chief executive. However, following widespread anger at his refusal to step down and amidst concerns that his presence could be harmful to the Barclays brand, he resigned as chief executive on July 3, 2012. According to an article in The New York Times published July 16, 2012, a former senior Barclays executive claimed he had received instructions from Robert Diamond to lower Libor rates after Diamond's discussions with Paul Tucker, deputy governor of the Bank of England, in which they had discussed the bank's financial position at the height of the 2008 financial crisis. Diamond, who reported that he was "sickened" by news of the Libor scandal, was