The top three stories this month were in order:
As Monetary Authorities, we have been humbled and have taken heart in the realization that some leading Central Banks, including those in the USA and the UK, are now not just talking of, but also actually implementing flexible and pragmatic central bank support programmes where these are deemed necessary in their National interests.
That is precisely the path that we began over 4 years ago in pursuit of our own national interest and we have not wavered on that critical path despite the untold misunderstanding, vilification and demonization we have endured from across the political divide.
….leading central banks in the global economy are bailing out troubled economic sectors to achieve macroeconomic and financial stability….the Bank of England… providing a £50 billion lifeline to the UK’s banking sector.Here in Zimbabwe we had our near-bank failures a few years ago and we responded by providing the affected Banks with the Troubled Bank Fund (TBF) for which we were heavily criticized even by some multi-lateral institutions who today are silent when the Central Banks of UK and USA are going the same way and doing the same thing under very similar circumstances thereby continuing the unfortunate hypocrisy that what’s good for goose is not good for the gander….
As Monetary Authorities, we commend those of our peers, the world over, who have now seen the light on the need for the adoption of flexible and practical interventions and support to key sectors of the economy when faced with unusual circumstances.
Via : Naked Capitalism
It is not all bad news though, Guido is short the FTSE….
Judging by the comments below he let Jacqui Smith off the hook (surprise) over Damian Green. According to PoliticsHome’s transcript when “asked about claims Mr Green had been bugged she said she would have had to sign a warrant for that to happen and she had not”. More when it is up on iPlayer.
UPDATE 11.50 : According to comments below the PoliticsHome transcript is incorrect. Pretty crucial detail to get wrong if they have.
UPDATE 12.20 : Have now watched the interview. She gave the impression, but did not state that she had not authorised bugging. Marr actually seemed better than average.
Regular readers will know that this allgation was a central part of Guido’s campaign against the Sith. Essentially the Smith Institute was a slush fund for Gordon’s ambitions. The Tories are now convinced that Ed Balls continued working for Gordon Brown when he was on the charity’s payroll. They have been trying for six months to ascertain whether or not he continued to have access to the Treasury with a security pass. Guido has other evidence that Ed Balls continued to act as Gordon Brown’s political adviser during th 2004 / 5 period when he was being paid by the charity. Not only Balls but also Tony Pilch, a former SpAd close to Balls, and Bob Shrum during the same over-lapping period were working for the Smith Institute.
According to the Sunday Times “the Tories are submitting a complaint to the Electoral Commission and John Lyon, the parliamentary commissioner for standards. They want Brown to be challenged over whether Balls had a pass.”
Guido understands that the Electoral Commission is already making inquiries, including in the United States, following a complaint made last July (after the Charity Commission report condemned the Smith Institute for partisan activity) by the Sunlight Centre for Open Politics. That letter of complaint (here) focused on the activities of U.S. pollster Bob Shrum. Shrum was paid by the Smith Institute to advise Gordon Brown, these slush payments are a serious breach of electoral law.