I get why the Tories are opposed to a judge-led inquiry into the scandalous rate-rigging practices employed by Barclays and other banks: their experiences of the Leveson Inquiry show how scandals, even ones that blend across the red/blue parties, have a habit of rebounding on the government of the day. I get why Labour are [...]
- 18 comments • Tagged as: banking, bob diamond, featured, finance, leveson inquiry, libdemvoice, News, Op-eds, Parliament
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The Barclays rate-rigging scandal has conflated a number of issues — Bob Diamond’s bonus, ‘casino’ banking, failed regulators — making it hard to get behind the media’s shouty headlines to understand the issues which should really concern us. Here’s my brief show-your-working attempt, starting with what Barclays. What Barclays did right: ‘fess up LIBOR (London [...]
- 10 comments • Tagged as: bank of england, banking, barclays, bob diamond, economy, eddie george, featured, libdemvoice, libor, mervyn king, national debt, Op-eds, paul tucker, personal debt
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