Yet despite its growing popularity, online learning continues to be seen in a negative light by politicians, regulators, and some members of the academic community, especially faculty.

FORBES: The Myths of Online Learning

However, the Senate hearing did not clarify why the regulators remained passive under the negative conditions mentioned above.

FORBES: J.P. Morgan Did Not Learn Any Lessons From 2008

Many banking regulations are worked out jointly among regulators, and "the OCC has been a very negative presence behind the scenes in Washington for many years, " said Travis Plunkett, legislative director of the Consumer Federation of America.

WSJ: Comptroller Got Rude Introduction to Job

Regulators found that Barclays "routinely made artificially low Libor submissions to protect Barclays' reputation from negative market and media perceptions concerning Barclays' financial condition" from August 2007 to early 2009 - so from long before and long after the conversation between Mr Diamond and Mr Tucker.

BBC: What did Bank of England say to Barclays about Libor?