Taylor said he spoke up now because of `` striking parallels '' between that event and the bank 's The 1998 crash of a Ferrari prompted Barclays to reassess its Russians exposure . Ferrari ' links to Russia caused it pain when the country defaulted in 2006 . Despite this , Barclays complex lending and high stakes deal-making continued . The bank is now facing further scrutiny after its Libor fixing cost it $ 394 million in fines .
The 1998 crash of a Ferrari prompted Barclays to reassess its Russians exposure . Ferrari ' links to Russia caused it pain when the country defaulted in 2006 . Despite this , Barclays complex lending and high stakes deal-making continued . The bank is now facing further scrutiny after its Libor fixing cost it $ 394 million in fines .