The "Double Dip" tax scams were fairly simple - in a typical case, Barclays and an American bank would loan, say, an airline for the purchase of a jumbo jet. A subsidiary without any employees would be set up owned by Barclays and the American bank to handle the transaction, and the subsidiary would pay income tax on the interest income. The scam would come into effect when both Barclays and the American bank would claim the same full tax credit amount with their respective UK and American tax authorities, i.e. essentially Barclays' income from the scam was being paid for by British and American taxpayers without the respective governments and tax authorities knowing what was going on. Barclays was making over £1 billion a year from the practice. This all came to a grinding halt when 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".