July 3rd, 2012

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…


199 Comments

  1. 1
    Oh says:

    Is Balls about to lose his Balls?

    Like

    • 17
      Aaron D Highside says:

      Is Shriti about two letters from her name?

      Like

      • 28

        Ed Balls told the Polly Curtis at Guardian on the 21st Oct 2008 “if you want to understand politics, you’ve got to understand economics, and that you can make a difference for good or bad by making good or bad critical decisions”.

        Good to know that Balls knew what he was doing all along

        Like

        • 47

          On Sunday 19 Oct 2008, Sophie Rayworth interviewed the FSA CEO, Hector Sants who said “But we have performed very, very well in the last fifteen months. I’m very proud of the FSA in the last fifteen months. We’ve done a good job”.

          Like

          • 5th October 2008

            ANDREW MARR: So you would not write to the Bank of England asking for an interest rate cut even as an emergency or temporary measure?

            ALISTAIR DARLING: I’m not going to be writing to the Bank of England to change its remit. I set its remit in March of this year at the Budget, as I do, on an annual basis. The Bank of England has a very clear remit to target inflation – that’s absolutely important – and, in support of that, to look at the government’s wider economic objectives.

            Nothing has changed over the last eleven years. That remit was designed to deal with difficult times as well as the good times, and I think that is very, very important in maintaining the central bank’s independence.

            Like

          • UKIP.i.am says:

            In other words its alright for the state (BoE and government) to fiddle the figures but nobody else, as they do regularly with crime, debt, unemployment, etc, etc .

            Like

          • Bill Bell says:

            Classic

            Like

          • this is going to be messy... says:

            TBGB …what was approved by TB. and what was ignored. Given that TB£iar still casts a spell on the press and on the heir to blair…
            .
            .
            as a result of the Banking inquiry he may finally be seen as not so competent when it comes to our money. It was not just the pointless loss of British lives in Iraq that he is responsible for.

            Like

      • 30
        Selohesra says:

        There was a young lady called Shriti
        Who had a particularly nice left Titty
        The one on the right
        Did less to excite
        Indeed some claimed it was really not pretty

        Like

        • 46
          Kemptown Races says:

          I like Raquel Welch’s left
          Doodah, doodah
          I could sit and watch her left
          Doodah all the day.

          I don’t mind her right
          It’s quite OK
          But it’s the left that’ll get my vote
          On National
          Doodah Day.

          Like

        • 74

          There was a young lady of rank
          Who talked to the Old Lady Bank
          In setting the bait
          At reporting the rate
          Said A nod is as good as a wink.

          [Still trying to refine this one.]

          Like

    • 63
      The BBC are cunts says:

      It’s Thatcher’s fault !!

      Like

    • 67
      Anonymous says:

      Oh ~~ it may be so. ( ’tis a consumation devoutly to be desired)

      Like

    • 102
      Ah! Monika says:

      The Shriti has hit the fan.

      Like

    • 160
      old git says:

      The head of the great Barclays bank
      Was a banker who’s rated top rank
      But someone on the Blower
      Wanted Libor rates lower
      To allow their great leader to swank

      But in a short passage of time
      Fixing Libor it seems is a crime
      The committee select
      Will no doubt detect
      Which of the suspects is prime

      Who was it who sanctioned the call
      Was it Gordon or Darling or Ball
      When the cover is blown
      And the culprit is known
      Bob wont be the last one to fall

      Like

  2. 2
    Billy B says:

    woof woof

    Like

  3. 3
    Andrew Efiong says:

    Balls and Brown should face prosecution for the grandest fraud ever known.

    They must be sent into exile.

    Like

  4. 4
    Gordon Brown says:

    Balls did the poo that would not flush

    Like

    • 19
      Aaron D Highside says:

      Floating assets?

      Like

    • 162
      Little Lord Fondlebum says:

      I told you to leave me out of this.

      Like

    • 163
      Norman Smith says:

      The cancerous tentacles of the Barclays LIBOR scandal are spreading like a spider’s web at the heart of which lies the incumbent of Number 10 Downing Street. It is unclear for how much longer the Prime Minister will be able to resist calls for a public inquiry into the wholesale abuses to which – it would seem – the very highest levels of government turned a blind eye. Plainly – and because he is now the incumbent Prime Minister and because I work for the BBC – this is all the fault of David Cameron and he will have to resign.

      Like

  5. 5
    Flatcap Army says:

    Gordon Brown was Chancellor, Yvette Cooper was Chief Secretary To The Treasury. Looks like Ed Balls actually was technically somewhere else doing something else at the time, worse luck

    Like

    • 34
      The Paragnostic says:

      And Miliband was Climate Change Fairytale Coordinator at the time, so he’s probably insulated from the mess as well.

      Basically, we’re left with Brown, Cooper and probably Bliar in the frame, though I’m willing to bet that poor Shriti will be cast to the lions to spare the guilty.

      Like

    • 37
      Jeffrey Bernard says:

      I wonder whether we will continue to be deafened by Milipede’s calls for a full public enquiry …

      Like

      • 48
        Ed Balls says:

        I’m renowned for my ‘light touch’.

        Like

      • 50
        Selohesra says:

        We are all assuming these calls are to delay the findings until after the election – but perhaps Miliband is playing clever long game and is really hoping to destoy Balls & Cooper who are likely to be after his job soon.

        Like

    • 65
      PitPony says:

      Back in the day, when two bank staff married they were not allowed to work in the same branch. Fraud risk.
      Maybe this sort of thing was bound to happen with the inbred, nepotistic cabal that ran the country in 2008.

      Like

      • 105
        I was a banker once says:

        I’ll go further up until the 90’s parents/children and brother and sister and cousins were NOT allowed to work in the same branch. In addition if you became engaged to another employee of the same branch(very usually the case as Banking is somewhat insular and many a romance has resulted in having to stay late to “tick-off” the work )the male of the partnership was transferred and I speak from experience.

        Like

        • 171
          Fred Thompson says:

          And Sir Fred Godwin did not succumb to this temptation by not marrying his mistress Bor.

          Like

    • 177
      Sue, Grabbit and Runne says:

      Balls has fed his missus a big shit sandwich and forced her to take a bite…

      Like

    • 189
      Vince Cable's rucksack says:

      Was Yvette Cooper married to anyone important at the time?

      Like

      • 190
        Laughing hangman says:

        Ah the wronged wife defence, ‘he made me do it’ wait to see how that one goes in an inquiry or even in court.

        Like

  6. 6
    The Admiral says:

    GOTCHA as someone once wrote…

    Like

  7. 7
    Socialism Ate My Future says:

    The wheels are about to come off the millibandwagon……

    Like

  8. 8
    The Bongler says:

    This goes right to the heart of Labour’s cronyism.

    What is Vadera doing these days? I suspect her gravy train is going to hit the buffers now.

    Every day brings new revelations of Labour corruption. Brown needs to punished.

    Like

    • 68
      Archer Karcher says:

      Vadera is a very busy bee for a complete failure. She is a financial advisor to the G20, a consultant with Temesek a Singaporean investment outfit and on the boards of BHP Billiton and AstraZeneca. Who said failure was a bar on earning mega bucks?

      Like

    • 141
      South of the M4 says:

      ” Every day brings new revelations of Labour corruption ” – blamed on the Tories by
      the labour party and the BBC.

      Like

  9. 9
    Gordim the Fife Fuckup says:

    I take full responsibility.

    I hereby offer Shriti Vadera’s resignation.

    I trust the matter is now closed.

    Like

  10. 10
    Houdini says:

    I look forward to seeing how Ed Ballsup gets out of this mess that he is entangled up in.

    Like

    • 49
      Andrew Efiong says:

      And Ed Miliband who knew Balls had a dire record as one of the worst ministers ever to walk in the Treasury but still gave him a job. Doh!

      Like

    • 56
      I don't need no doctor says:

      He will appear on the BBC many times for the forseeable future, being interviewed by some lefty who will ask questions such as, why didn’t the tory opposition do something.

      Like

  11. 12
    Booby Diamond says:

    I want my solicitor guv

    Like

  12. 13
    The Oncoming Storm says:

    Diamond is the hardest known substance and is well capable of puncturing Balls…

    Like

  13. 14

    What’s it got to do with Shriti Patel?
    Is she dodgy, like Warsi, Lord Ahmed…?

    Like

    • 106
      imcompetent politicians says:

      I read that ‘Lord’ Ahmed is back in the Labour fold again.
      There’s a shock

      Like

  14. 15

    It gets better: Shriti is a tax avoider with a personal services company to launder all the cash she receives from being a financial services consultant.

    Shriti Vadera Ltd. had £754,148 in the bank in 2011.

    Labour: raising the taxes for the rich, but not paying it themselves.

    Like

  15. 16
    Rat's arse says:

    I just hope this ‘inquiry’ isn’t a white wash like the others, whereby Leiber have got off scot free and, some-how, it all finishes up the Tories fault.

    We need to know how sticky are the fingers of Leiber (and in particular Brown & Bollox) and get them to shoulder the blame they always seem to wriggle out of.

    What is wrong with Leiber voters?

    Like

    • 21
      Engineer says:

      Blinkers.

      Like

    • 35
      Archer Karcher says:

      Don’t blame the voters too much, although most are dim. No, the real blame lies with the most powerful propaganda and PR organisation in the world, the BBC, who are the Labour party media outlet.

      Like

    • 138
      Old Judge says:

      Perhaps the PTB will put out a call for Lord Hutton of Whitewash fame. Didn’t he let all the Government ministers and those at the centre of the storm – lie while selling the whole no on oath charade to the Papers to sell on to the public?

      Like

  16. 18
    Engineer says:

    Wonder how the BBC will report all this….

    Like

    • 23
      nellnewman says:

      gordon who?

      Like

      • 25
        Engineer says:

        Yes, that probably will be the line.

        “Oh, well, if Saint Gordon was acting in the national interest….blah, blah. Nothing to see. Move along.”

        Like

    • 26
      Boudicca says:

      Scrawny BBC fuckwit Norman Smith has already opened up a huge tin of whitewash.

      Like

    • 43
      Pickled Wizard says:

      Council lollipop ladies not supplied with new lollipops thanks to draconian Tory cuts. Diamond responsible for Japanese tsunami by having lunch with tory voter, Man cuts finger in Wales, something going on in afghanistan, Duchess of Cambridge wears hat, evil Israeli terroist government forces compulsory circumcision on whole world, curly haried man plays tennis, etc., etc., ad nauseum…… Thats all for tonight, thank you for watching and its a shame we ran out of time to bring you anything objective or truthful.

      Like

      • 88
        Points of View says:

        I would happily mortgage every garden shed north of Watford to watch such an entertaining lineup. Can we please have some repeats in a few days time?

        Like

      • 168
        Durotriges says:

        Perfect – A work of genius Wizard

        Like

    • 83
      Mornington Crescent says:

      They’re going for the all-out lie:

      http://www.bbc.co.uk/news/business-18695181

      Since when was the Bank of England in Whitehall? According to the Beeb, since about 5 o’clock this afternoon.

      Like

    • 119
      Flatcap Army says:

      try this

      http://www.bbc.co.uk/news/business-18695181

      no mention of “Labour”, “election” or “government”

      Like

  17. 20
    Shit in the bucket Diamond says:

    Criminals who think they can get away with it.

    Like

  18. 22
    nellnewman says:

    Explains exactly why militwit was calling for a £multimillionpoundtaxpayer funded investigation that would have taken at least a year to set up and several years to complete. He really does not want the truth about the corruption at the heart of the last labour government coming out at this Parliamentary Commission before the next election.

    He, bullyballs, gordon, shritivadera and darling must be dreading diamond’s evidence tomorrow.

    As someone said above the wheels are really coming off now,

    Like

    • 33
      Owain Glyndwr says:

      Thats if diamond spills the beans and does not plead the 5th or no comment. The thing we need is a paper trail that names or dept are mentioned

      Like

      • 161
        a welsh freedom fighter says:

        If Diamond clams up tomorrow everyone will know its a stitch up.

        The story will simply not die down. It will go on and on and on.

        Eventually something will crack.

        the average politician is looking more worried than the average banker

        Like

      • 178
        Sue, Grabbit and Runne says:

        Something like the Leveson enquiry, which goes on for so long we all lose interest, and one witnesses testimony, under oath, directly contradicts another witnesses testimony, but no-one is arrested.

        How many enquiries have there been now, about what went on when Labour was in power?

        Like

    • 92
      Anonymous says:

      IMHO he will be looking to his reputation in the USA financial arena & is not going to throw the sh*t at the politicons here as this would have the yanks seeing a warning flag that could affect his employment prospects there.

      Like

      • 108
        Tooth fairy says:

        not so much employment prospects rather his incarceration prospects surely?

        Like

      • 140
        UKIP.i.am says:

        I don’t think so. After Gordon Brown blamed the USA for causing the credit crisis, the Yanks will be all too eager for revenge.

        Like

      • 179
        Sue, Grabbit and Runne says:

        If you mean RED, its quite likely that the Septics will seek extradition if we don’t charge him with something. If Osborne thinks there is no crime on the UK statute books to throw in his direction, I’m pretty sure our cousins over the water can find something.

        Like

      • 192
        Northern Convert says:

        Bet Rupert has been phoning Bob all day. Go on son, grass the lot of
        them. Where is Mandleson hiding l wonder. Alistair did’nt mention any
        of this in his book did he?

        Like

  19. 24
    Clapham Omnibus Driver says:

    But the BBC will bury this and the Man in The Street (as opposed to the Man on the Blogosphere) will not get the story.

    Like

  20. 27
    fuck the bbc says:

    This is fucking marvellous!!

    Like

  21. 29

    Like the fucking iceberg, nine tenths of this will remain under water, unfortunately.

    Like

    • 44
      The Paragnostic says:

      Well, St Tony was still PM at the time, so we can be sure that any documents implicating No. 10 in the fix will have been shredded long ago.

      Hopefully the BoE will have kept transcripts of the “calls from Whitehall” mentioned in the note, and with luck, at least one will have come from the Nokia flinger.

      Despite the brevity of the note, it seems that Tucker had stood up for Barclays more realistic rate setting, but was just giving Diamond a heads-up that the Treasury was making noises.

      Would be nice to see the actual Libor rate set rather than just the rankings, though – just to see how far other banks were artificially lowering Libor and making Barclays stand out.

      Like

      • 57

        Indeed.

        I still have this feeling that it will be a score settling exercise rather than a getting at the truth one.

        In fact, I wonder what sort of arbitrage might be going on right now?

        Like

        • 89
          The Paragnostic says:

          So long as the score settling implicates Brown and Cooper, I’d happily settle for that.

          As I see it, the artificially low base rate set since 2002 was a major temptation to the banks, since it allowed small hikes in Libor to make huge differences to derivatives trades and thus boost profits – this explains Barclays actions up to the 29th October call, which have been rightly punished. Had a sensible base rate been in effect during the period, marginal changes in Libor would have had to be much more obvious to extract the same profits. So I’d assign some of the blame for the overpricing to Brown and Balls, and all of the blame for trying to influence Barclays to artificially lower rates to Brown and Vardera.

          Can’t wait for Diamond’s testimony tomorrow – if I were he, I’d be mightily pissed off and ready to take no prisoners.

          Like

          • I rather take the curse all their houses approach as the situation is so monumental that I do not think any of us have even assimilated all its ramifications yet.

            Brown is by far the biggest culprit though and I do not think he has his equal, even in the USA, on this subject.

            But what we have witnessed is the herd mentality, a feature of every bubble from time immemorial.

            Her Majesty may have said Why didn’t anyone see this coming? If she had been in earshot, I would have said Excuse me, Maam! But I had already gone having got just as pissed off as Diamond might be now.

            Like

        • 193
          Northern Convert says:

          I hope Ed uses his brain and cuts them all loose. I bet Ed B is calling in every favour he can think of. But who would replace the Balls if they were booted out on their asses? How about Sally and Paddy?

          Like

    • 93
      The Labour Patry Are Criminal Conspirators says:

      They can always hide the records in the basement and claim its full of asbestos. That will gain time to get Tony Blair’s shredder up to speed, anyway

      http://www.guardian-series.co.uk/news/wfnews/9793243.WALTHAM_FOREST__Thousands_of_town_hall_records_to_be_destroyed/

      Like

    • 107
      Ah! Monika says:

      Maybe, but it did a fair bit of damage. Still talked of 100 years on.

      Like

  22. 31
    Dudley Zoo says:

    Why isn’t Brown out there defending his policies?

    He isn’t out there because he is a coward

    White feather for Brown

    Like

    • 149
      Bill Bell says:

      I read somewhere he’s got Down’s Syndrome

      Like

      • 180
        Sue, Grabbit and Runne says:

        I think you’ll find the illness of choice for the man in power caught with his hand in the cookie jar is Alzheimers. So far the only man to spontaneously and publicly cure himself is Ernie Saunders.
        Alternatively there’s the fake suicide. Plane crash in the Canadian wilderness seems to be favourite there, with your own personal physician coincidentally in the area to identify the body and pronounce you dead.

        Like

  23. 32
    JH says:

    I think the national refusal to confront what Brown et al did to an economy they found in good shape is psychologically equivalent to a family finding out the uncle has been fiddling with the nieces, and doing nothing but watch helplessly in silence as the family is slowly torn apart.

    It somehow seems less painful to leave the crimes unpunished and go forward in grim denial, than go through the distress of confronting exactly what happened and face up to how it was all allowed to happen.

    The fact that the perpetrator is a massive bully with powerful forces helping them avoid retribution could also be true in both cases.

    Like

    • 40
      nellnewman says:

      Talking of bullies you have to admit that gordon, bullyballs and shriekyshriti all had towering reputations for bullying and anger management problems. They would have been a formidable trio especially given that they were backed up by a no10 bullying/dirty tricks team of twatson and damianmcbride that were second to none.

      Like

    • 44
      Cruel and Unusual Punishments says:

      I’m damn sure I could get satisfactory – if long drawn out – results.

      Like

      • 54
        JH says:

        We queue in this country mate.

        Like

        • 71
          Gordon Brown says:

          I would fancy being in a florists with Gordon Brown

          Like

        • 75
          Laughing hangman says:

          Very long and very drawn out, pity there’s a drought order in the south east, but we’ve got plenty up here for effective waterboarding, send the b*stards here.

          Like

    • 143
      UKIP.i.am says:

      “I think the national refusal to confront what Brown et al did to an economy they found in good shape is psychologically equivalent to a family finding out the uncle has been fiddling with the nieces,”

      The broadcasting media refusal. Even SKY is scared of hurting the feelings of Labour’s rabid supporters. The only place that will hear much about Labour’s involvement will be in Scotland – from the SNP.

      Still nobody has questioned anybody from Labour about what they knew about this fixing. Outrageous!

      Like

  24. 36
    Brilliant Tennis says:

    The tories should take full advantage of this racket and expose the corrupt players that were at the heart of the Labour government. I can see at least one shady chancer having to resign.

    Like

    • 101
      Ex-Tory says:

      I’d say its odds on that Dave will f*ck it up/ conpsire with the socialist politial establishment.

      Like

  25. 38
    Eunochonomics says:

    No balls. Ha ha ha ha

    Like

  26. 39
    Bugler Bert says:

    Brown, Ballsache, and Cooper [note the initials.......] The three unwise clowns that came very close to wrecking this country; they should be sent to the Tower of London, for that is where traitors and saboteurs are sent.

    Like

    • 103
      JH says:

      Jury’s still out on whether we are wrecked mate, Cameron seems intent on swinging the wrecking ball about just as wildly as the last lot.

      Like

  27. 41
    The crummy top dog of this crummy government, - formerly the crummy top dog of a mostly crummy oppo says:

    Most of us sat on our hands while Mr Brown ruined the country because (a) we were too up our own arse to spot what was going on and (b) we didn’t want to upset Tony, – who, it must be said, chose Mr Brown.

    Like

  28. 42
    Keep The Falklands British says:

    Dodgy Balls

    Like

  29. 61
    what's to laugh at? says:

    Liblabcons set up enquiry by liblabcons into liblabcons.

    ha ha ha ha ha ha ha ha

    Like

  30. 62
    Rev David Cameron says:

    I will pray for them all.

    Like

  31. 64
    Popcorn on a Wednesday Salesman says:

    Christ I need to go on an IR35

    Like

  32. 70
    Owain Glyndwr says:

    Call me dave should be on the TV now giving liebour a hammering, he should be on TV tomorrow giving liebour a hammering, PMQs tomorrow he should be grabbing the liebour by the throat, but will he, NO because he is a limp dicked limpdem, no phucking balls

    Like

    • 72
      Quisling says:

      And McMental should be on TV defending him and his cronies. NO because he is clinically insane, no phucking balls when Watson is otherwise deployed in a different theatre of operation

      Like

  33. 73
    Owain Glyndwr says:

    Just heard on the steam radio that bollocks balls claiming it was nothing to do with him cos he was in the edukashun dept

    Like

  34. 77
    Hugh says:

    So, in that era of sofa government one professional understood the importance of the Libor pressure from Downing Street, and recorded the fact.
    Sure as hell was’nt in Downing Street though.
    Andrew Tyrie MUST be given the budget to hire the best QC’s and to sub poena the then Government’s records.

    Like

  35. 78
    Observer says:

    Baroness Vadera engineered the downfall of Railtrack, dismissing small investors in it as “grannies” who would “lose their blouses”.

    Like

    • 185
      Ivor Tapeworm says:

      Raoltrack fell because Railtrack was incapable of engineering anything; in particular, engineer a safe railway.

      Like

  36. 81
    Anonymous says:

    Radio channel Pravda 4 desperately spinning on this – no mention of whitehall

    Like

  37. 82
    Norman Houdini Smith says:

    How the hell am I supposed twist this in Labour’s favour?

    Like

    • 85
      Quisling says:

      Start with a Spiders Web. Then drink a litre of Absinthe something will come up eventually

      Like

  38. 84
    Darling says:

    Like

    • 91
      nellnewman says:

      Right so that’s balls and darling with their defence. What defence will gordon use – I was chasing obama round that NewYork kitchen at the time so it couldn’t have been me.

      Like

      • 94
        Quisling says:

        By the end of the evening they will have finished defending themselves and will be turning on their colleagues. Its the Labour way after all, and Balls is an expert after all

        Like

        • 97
          nellnewman says:

          Yes. It was all shritivadera’s fault, took it on herself, we never knew she was doing it; all ex labour ministers shocked and agree she should be prosecuted. And out will come twatson with the smear gun to make sure she’s well and truly finished.

          Like

          • The Scottish Svengali says:

            I am totally shocked at these revelations…to-day was the first I had heard of them.

            Like

    • 100
      Ed Balls - Shallow Chancer says:

      I’ve never heard of these people.

      http://bit.ly/Mt5vD7

      Like

  39. 87
    Tardkiller says:

    New LIBOR New Danger!

    Like

  40. 95
    not a machine says:

    Interesting Ed Balls interview on sky news at 1 , Anna asked some interesting questions , lot of smoke comming out of Ed , even thought George Osbourne had backed his lite touch approach ….. but so much bluster about quick parliamentary enquiry , yes or no answer had him shuffling the deck……. Ahhh as Mr Tyrie is allowing oaths …… cant see what problem is :)

    Like

    • 156
      just saying says:

      Leveson has proved Labourites don’t let swearing on oath stand in the way of a good lie.

      Like

  41. 96
    nellnewman says:

    Quite interesting to note that sarahbrownuk ,who was tweeting her husband’s innocence a few night’s back has suddenly shut up on the subject and edmiliband seems also to have gone quiet after being attacked from all angles on his twitter page.

    Like

    • 109
      DDC says:

      she used to tweet from her Nokia I suspect. Left it on the sideboard when she went to the shops. When she got back, it seems there had been an unfortunate accident.

      Like

    • 122
      jgm2 says:

      It probably dawned on ‘The Office of Gordon and Sarah Brown’ that by publicly denying that the Imbecile had anything to do with it – a claim that was probably limited to sites such as this – they were actually planting the seed of doubt in the mind of all Sarah’s tweeter followers.

      ‘Errrr, hold on a minute – now that you mention it, he was in charge while all this was going on…’

      The lady doth protest too much.

      Fantastic. It’s all unravelling. If Cameron were any good he’d be fucking hammering Labour 24/7 on TV about this. As would Osborne. For a ‘PR’ man Cameron doesn’t seem to be able to make the simplest of messages stick.

      ‘There’s no more money left’. I’d make it fucking compulsory for every T*ry MP to mention that little gift from Liam Byrne in every single interview. And in every single fucking sentence if the BBC insisted on cutting it out of interviews.

      As for this little gift from Shritty. I’d be going nuclear. This goes to the heart of the ‘independent’ BoE. This, if handled properly, is the toe in the door to prove that Brown was manipulating a credit boom for political ends.

      Like

      • 136
        Anonymous says:

        Please afford Gordon Brown the courtesy of his full, richly deserved title – The Maximum Imbecile. Calling him simply “The Imbecile” denudes him of his historic role in this car crash. The rest of his thugs/acolytes were simply imbeciles of varying degree. I really hope this all means Shriti gets well and truly shafted – karma.

        Like

      • 169
        Diane Fatbutt says:

        You have concisely explained why I shan’t be voting Conservative.

        Like

    • 126
      gramma says:

      Jimmy on here too Nell.
      Is he actually Socialist a senior politician keeping his powder dry ?

      Like

  42. 98
    SouthEastVoter says:

    So Liebour wanted Libor to be lower and now want a Public Enquiry as they have fogotton what they did between 1997 and 2010.

    If there is a Public Enquiry the result willbe Blair’s wife Chambers will take more money from the tax payer while Brown Balls will not recall what was said when and the BBC will not report on it unless they find and angle that is the fault of Murdoch or the tories

    Like

    • 116
      Jethro says:

      95 What do you mean, ‘Murdoch OR the Tories’? They were both in it together!

      Like

      • 158
        do me a favour says:

        Blair is godfather to Murdoch’s daughter.
        Wendi Deng,Sarah Brown and Rebecca Brooks were good friends.
        Jack Straw travelled to work by train with Brooks.
        Labour spent the years before it was elected in 97 and until NI stopped supporting the party around 2009, firmly ensconsed up Murdoch’s bony backside.

        Like

        • 196
          Northern Convert says:

          “firmly ensconsed in Murdoch’s bony backside,” surely that was more up Mandys street!

          Like

  43. 99
    Two Tornado jets crash in Scotland says:

    Was Gordon in the vicinity?

    http://www.guardian.co.uk/uk/2012/jul/03/raf-tornado-jets-crash-scotland

    Like

  44. 104
    Ah! Monika says:

    The Shriti has really hit the fan!

    Like

    • 115
      Calling the bankers says:

      The only thing that could better this is that Barclays(and other banks) routinely record all incoming phone calls in case of customer disputes over telephoned instructions…however on the down side I don’t think they will have routinely retained the logs for more than 3 years

      Like

  45. 111
    Raving Loon says:

    Won’t change the “zeitgeist” that evil bankers are to blame and need to be punished. The mob has spoken and free enterprise will lose out.

    Like

    • 121
      Nothing is more dangerous than a cornered Banker says:

      Bankers aren’t journalists who are lkely to cave in to the rabid mob or politicians showboating for the public especially if they think that politicians are making them scapegoats ….they fight dirty especially when their backs are against the wall….if they’re going down they’ll take a few politicians with them….and it’s ingrained in the banking culture to make detailed file notes of every conversation immediately after phone calls or interviews and place in the permanent files and bank records are kept for a minimum of 25 years so it should make interesting reading if Bob followed usual routine

      Like

  46. 112
    Zoro says:

    No matter what Diamond says nothing, nothing at all is going to happen to brown, balls, cooper, millitwit or any fucker who was responsible. They are socialist elite and socialist elite never pay.
    Balls could be caught bang to rites while ripping the legs off of orphan babies and he would still stay in office.

    Like

    • 153
      Peter Grimes says:

      The Sainted Margaret was caught doing just that – and look what happened to her.

      Like

    • 182
      Sue, Grabbit and Runne says:

      Diamond can only say “Tucker said this” or “Tucker told me that”. I want to hear what Tucker has to say in the witness box, and then I want to hear from the people that were leaning on Tucker. If there was pressure from Whitehall to keep rates down, you can bet your life they would not have phoned the DEPUTY director of the Bank of England.

      Like

  47. 113
    Mad, Bad & Dangerous Gordon McRuin ( Member in absentia ) says:

    It was Sue’s idea to set up the FSA.

    Like

  48. 117
    Ah! Monika says:

    “This call may be recorded for training purposes”

    Never a truer word.

    Like

  49. 120
    nellnewman says:

    Y’know Guido I rather thought when the last labour govt came to it’s spectacular end your blog would run out of steam.

    I was wrong and you are going from strength to strength though partly thanks to the last corrupt labour government which still keeps giving us such amazing scandals to wonder at.

    Like

    • 123
      The BBC, because of the unique way we're funded says:

      Don’t underestimate our ability to turn a Labour scandal into an exclusively Tory scandal. Look at the phone-hacking coverage.

      Like

      • 128
        Just asking ?? says:

        Has Balls got his own desk, staff pass and computer at the BBC? He’s been continually “on air” to-day

        Like

        • 132
          Calamity Clegg says:

          FibDem Lord Oldshit must be hoarse with the amount of invective he’s been spewing out all day.

          Like

    • 124
      RED ED - SON OF BROWN says:

      Balls and Brown: the gift that keeps giving.

      Like

    • 134
      The Paragnostic says:

      George Carlin on politicians:

      (may contain swearing).

      Like

    • 152
      B's all of 'em says:

      But why do we still let them all get away with such scandals?

      Like

  50. 127
    jgm2 says:

    Balls and Brown, looking at TV

    S-H-I-T-I-N-G

    Like

  51. 130
    JAMES GORDON BONKERS McMAD says:

    Breaking News !
    Bob Diamond to be found dead in the woods tomorrow
    early reports say a rusty knife will be involved

    Like

    • 151
      Bill Bell says:

      I reckon it was Miss Scarlett in the Boardroom with the Lead Piping

      Like

    • 183
      Sue, Grabbit and Runne says:

      Tucker is more likely. Diamond is the sacrificial lamb, and Tucker breaks the chain leading to Whitehall. I suspect a typed suicide note and a walk in the woods tomorrow morning.

      Like

    • 197
      Northern Convert says:

      swift Nokia to the temple perhaps!

      Like

  52. 135
    ROY CASTLE on Record breakers says:

    Deregulation , Deregulation ,
    Deregulation , that’s what you need
    If you wanna be the best , if you wanna beat the rest ,
    Deregulation’s what you need !

    Like

  53. 137
    Aunty Matter says:

    I’m still waiting to hear when Ed Miliband demanded an full public inquiry into the banking scandal when he was in Government.

    Like

  54. 142
    e strobes says:

    When is Gordon Brown going to be summoned to appear before the Treasury Select Committee alongside Bob Diamond?

    Like

    • 146
      UKIP.i.am says:

      If Bod Diamond spills the beans effectively re the BoE involvement then someone at the BoE will have to appear before them and they should be made to reveal where the instruction came from about lowering Libor rates. This could run and run for months, into the summer recess, but they should work throughout it to get to the bottom of what happened and who was involved.

      Like

    • 147
      Chapps says:

      Soon I hope

      Like

    • 148
      Chapps says:

      I we still paying for BROONS Sky sports?

      Like

  55. 154
    Flatcap Army says:

    and, oh look – the 7pm BBC News headlines don’t mention it, at all

    Like

  56. 157
  57. 165
    Anonymous says:

    The phone-hacking scandal enquiry was turned by Labour politicians, the left-wing press, and the BBC, into a smear-job on the Tories and the Murdochs.

    The non-Murdoch right-wing press has largely colluded with that, in order to weaken or destroy their main commercial rival. Their line has been: “We must defend press freedom, once News International has been demolished.”

    It is too soon to say what the outcome of a banking-scandal enquiry may be. But one can be certain that Labour politicians will turn out to have had nothing to do with what happened. Also that all references to a Labour government having been in charge at the time will be put down the BBC’s collective memory-hole.

    The BBC regards its former employee George Orwell’s novel “1984” as a blueprint, not a warning.

    Like

  58. 166
    Moley says:

    Anybody interested in knowing how the American Banks operate together to rip off their Municipalities should read this rather long and extremely grim article.

    There are suggestions that Banks in France and Scotland were also involved.

    http://www.rollingstone.com/politics/news/the-scam-wall-street-learned-from-the-mafia-20120620

    This is organised crime.

    Like

    • 167
      Moley says:

      The manipulation of Libor rates is extremely relevant to the interest rate swaps that the banks peddled to unsuspecting customers.

      Like

    • 184
      Sue, Grabbit and Runne says:

      Matt Taibbi has a whole series of these, starting with “Why isn’t Wall Street in jail?”

      Hope he doesn’t go for early morning walks with a blunt penknife – there’s a lot of money involved.

      Like

      • 186
        Ivor Tapeworm says:

        Tabbi has written some excellent articles in The Rolling Stone about the corruption of Bankers and Politicians. Well worth a read.

        Like

    • 198
      Northern Convert says:

      Organised crime? I give you “The Unions.”

      Like

  59. 174
    BordererinEngland says:

    “Submarine Chancellor”? Where was that coward Balls tonight? Certainly not on Newsnight!!!!!!!

    Liebour…..what a load of two faced sh1ts!

    There only hope is that their allies at the BBC can keep trying to pin it on the Tories.

    PMQs tomorrow….Cameron should go for the jugular….he’ll never get a better chance!

    Like

  60. 175
    Sue, Grabbit and Runne says:

    The RED letter also says Barclays reported LIBOR rates were higher than other banks which, he says, were not reflecting reality. It appears that, initially at least, Barclays were the only bank NOT fiddling the numbers. Why is no-one chasing the others – it has to be easy to find them, just look at the rates being reported by other banks between 2005 and 2010.

    Like

    • 187
      Ivor Tapeworm says:

      The others are being chased, by the US authorities and in the UK.

      Barclays is just the tip of the iceberg. This scandal is HUGE.

      Bear in mind it is the manipilation of a $350,000,000,000 market. Yes, you read that right. $350 Trillion.

      Like

  61. 191
    Anonymous says:

    Libor by name, Liebour by nature.

    Like


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