A year after his ouster as Barclays' chief, Bob Diamond told CNBC on Friday he's bullish on the bank.
Speaking on the sidelines of The Nantucket Project conference, Diamond also said banks can't be prevented from failing—because they need to take risk to drive the economy and create jobs. But in the "Squawk Box" interview, he stressed that the "toolkit" to end the risk of taxpayer bailouts of financial institutions in the U.S. and the U.K. is available.
"The single most important thing if we're going to be able to say, 'Never again, no taxpayer money again,' is to have an effective, rigorously tested resolution and recovery plan that's accepted by the major governments around the world," he said.
"I don't think what we're trying to do is say, 'Banks can't fail,'" he added. "I think we want to be comfortable that if a bank does fail or if a bank does get into trouble it doesn't create systemic risk and it's not a burden on the taxpayers."
U.S. and U.K. banks are stronger than before the 2008 financial crisis, he said.