Tuesday, July 3, 2012

Pilgrim Progress

Alistair Darling boasted about LIBOR falling in December 2008…

“The measures that I announced in October have stabilised the banking system, and inter-bank lending rates have fallen. The three-month LIBOR rate halved to just over 3 per cent. this week.”

The Shriti Hiti the Fan

Downing Street are drawing attention to this email in Barclay’s evidence to tomorrow’s Treasury Select Committee:

Click to Enlarge

“Mr Tucker stated the levels of calls he was receiving from Whitehall were ‘senior’ and that while he was certain we did not need advice, that it did not always need to be the case that we appeared as high as we have recently.”

As Guido said this morning, you have to distinguish between the nickle and dime LIBOR fixing scandal of traders trying to massage their end of day mark-to-market and the Treasury / FSA / Bank of England policy of fixing LIBOR. Tomorrow Bob Diamond is likely to point out that manipulation of LIBOR rates was in the national interest and sanctioned by Downing Street and the regulators.

Gordon Brown’s Downing Street economic adviser Shriti Vadera was driving the policy…

Diamond Says: ‘Hold My Dick’

The Diamond backlash wasn’t expected until tomorrow’s Treasury Select Committee, but the first blows have been struck from an unlikely source: his daughter. Nell Diamond, a twentysomething Deutsche Bank employee, has hit back at the politicians laying into her dad. In a swiftly deleted tweet, Nell told George Osborne and Ed Miliband to “HMD“, or “hold my dick“:

The photos of Nell and Bob are still up

UPDATE: Neo-Guido was at the same Kanye gig pictured above and returns from lunch to report Daddy Diamond and Nell are displaying the “Diamonds are Forever” sign.

Rachel Reeves’ Lap Dancing Campaign Defeated

Labour prude Rachel Reeves has suffered a new blow in her killjoy campaign to shut down lap dancing clubs in Leeds city centre. The Shadow Chief Secretary to the Treasury has called for premises that offer adult entertainment services to be refused licenses and be forced to move out to “less conspicuous” areas.

Guido is pleased to report that all seven lap dancing clubs in Leeds have retained their licenses as, hilariously, the online e-petition for Reeves’ campaign has mustered only three signatures as we go to pixel. The people have spoken…

Tom Watson finally escapes from his News International bubble:

Banking is bigger than Murdoch“.

Salmond’s Joan’s Darling Gaffe

Alex Salmond’s favourite columnist Joan MacAlpine MSP was off on one this morning about new union poster boy Alistair Darling. In a particularly unhinged rant, MacAlpine lambasted the former Chancellor for “being asleep at the wheel while the bankers screwed the rest of us”. That’s all very well, but poor old Joan then got slightly ahead of herself:

Quite why he thinks he has the right to come to Scotland and lecture us about how to run our affairs is breathtaking in its arrogance.”

Perhaps because the fact that Darling is, er, Scottish…

Unions Defeat Progress in Labour Skirmish

It appears that Progress has bowed to pressure from the unions and admitted defeat in the party’s damaging civil war. The Blairite faction this morning acknowledged the grievances of the GMB and announced a raft of reforms in response to their criticism. Labour’s enemies-of-the-people will now publish unprecedented information on their sponsorship and donations. Presumably that declaration will be “it’s all from Lord Sainsbury”.

VIDEO: Farage Batters Van Rompuy (Again)

“With everyone of your predictions it goes on getting worse, I’m sorry sir you don’t have the presence, the credibility or the standing for the international markets to believe you can provide a solution. And Mr Barroso here, who stood up at the G20 and said “we don’t need any lessons on democracy”. Says the unelected president of the European Commission… You’ve made yourselves an international laughing stock. You don’t have any credibility.”

Labour Tell Donors How to Dodge Tax Too

Yesterday it was the Tories advising their top donors on how to avoid tax through a controversial “legacy” scheme. The story had considerable traction and unsurprisingly provoked considerable outrage among Labour MPs:

Guido can now reveal that the Labour Party offers an almost identical scheme to help its supporters dodge inheritance tax as well. Labour’s “Leave a Legacy” programme offers advice on three different methods of leaving money to the party, even going as far as to suggest clever a legalistic wording of donors’ wills in order to minimise tax liability:

Labour have led the way on bashing tax dodgers, with everyone from the shadow cabinet to the backbenches queuing up to stick the boot in. Starting with trigger-happy tweeter Steve McCabe, Guido wonders what they have to say about their own party being directly involved in a tax avoidance scheme. They call that red-handed…


Seen Elsewhere

Labour Spell New Adviser’s Name Wrong | ITV
Dave Stung by Jellyfish | Sun
City Minister’s Inheritance Tax Dodging Trusts | Indy
What I Would Have Done if I was Sarah Wollaston | Iain Dale
Boris is an Epic Europhile | Louise Mensch
Warsi Got PM to Confront “Secular Fundamentalism” | Fraser Nelson
Guardian April Fools Apology | Press Gazette
Jenni Russell and Her Child’s Godfather, Ed Miliband | Breitbart
Labour’s Left and Right are Growing Restive | Staggers
Corrupt, Incompetent UN Has No Right to Lecture Us | Dan Hannan
Mirror’s Lazy Lie | Guardian


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Rod Liddle on the loony UN sexism special rapporteur:

“There is more sexism in Britain than in any other country in the world, according to a mad woman who has been sent here by the United Nations.

Rashida Manjoo is a part-time professor of law at Cape Town University in the totally non-sexist country of South Africa (otherwise known as Rape Capital Of The World).

Mrs Magoo has been wandering around with her notebook and is appalled by the sexist “boys’ club” culture here, apparently.

I don’t doubt we still have sexism in the UK. But is it worse than in, say, Saudi Arabia, d’you think, honey-lamb? Or about 175 other countries? Get a grip, you doolally old bat.”



orkneylad says:

What’s he been doing FFS, mining bitcoins?


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