FSA’s Barclays Report:
Staff Believed Bank of England Sanctioned LIBOR Scam

This is from page 36 of the FSA Notice on the Barclays LIBOR fixing scam:

Robert Peston has identified the senior individual at Barclays to be Bob Diamond and his interlocutor to be Paul Tucker, deputy governor of the Bank of England. If it turns out that, as Guido suspects, the Old Lady was encouraging Barclays to downplay its LIBOR funding costs to help maintain calm, we have a right old regulatory pickle. The Bank was in all likelihood encouraging Barclays to break the rules for the greater good of the City of London…

Hat-tip: Jim Pickard



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FT leader on Labour’s “Jewish problem”:

“If Mr Corbyn had serious aspirations to leadership he would tackle this problem head-on. Instead it falls to Labour’s moderates to ask themselves how long they will tolerate this state of affairs. Edmund Burke wrote that “the only thing necessary for the triumph of evil is for good men to do nothing”. Labour’s inaction over anti-Semitism is a stigma that must now be erased by the good people in its ranks.”

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