Sunday, July 1, 2012

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

Wednesday, March 21, 2012

Peston BBC Blithering Budget Special

The Reithian qualities of Robert Peston have been much remarked upon here. Yesterday evening he gave us the benefit of his contacts and insight into the budget. As you can see above over a two hour period last night on the Twitter he invited us to call him a “blithering idiot”. Peston, you are a  blithering idiot.

We, along with many people in the City and business, just wish he’d shut up. Today is a good day to try CNBC’s coverage or Jeff Randall on Sky…

Wednesday, March 7, 2012

Mr Scoop Scooped

Given that Robert Peston’s “exclusive” Cable letter was actually in the FT last month, the timing of yesterday’s “leak” looks strange. Most coverage has focused on Cable’s unease about the economy and the government’s lack of a “compelling vision”, but the Beeb and Peston have put the call to break up RBS as the top line.

While one theory is that Cable gave the letter to Peston himself, Guido hears Tom Baldwin was pushing the RBS angle heavily to hacks yesterday evening, so much so that some suspect this was his dog in the fight. Pesto should be more careful when an “exclusive” is dangled in front of his face…


Seen Elsewhere

Is Left Finally Turning Against EU? | Dan Hannan
Labour Votes Going Green | Guardian
UKIP Winning Class War | Tim Stanley
UKIP is a Good Thing | Peter Bone
Coalition of Losers | Fraser Nelson
UKIP Could Cost Labour 10 MPs | Sun
I Considered Defecting | Mark Pritchard
Thornberry a Snob | Sun
Thornberry Has Turned Fire on Labour | Guardian
Thornberry’s Contempt for Working Class | Telegraph
Thornberry Shows Why Labour are Losing to UKIP | Alex Wickham


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John Mann tells the Today programme:

“It was horrendous, it insults people like me, it insults the people I know ,my friends and family, Labour voters across the country. White vans, England flags, are Labour values, and pretty routine Labour values for most of us. It’s embarrassing for him and for the Labour party. It shows that somebody was rather out of touch with most parts of the country, and with Labour voters and Labour values across the country.”



Left on Left says:

The lefties are attacking because the panellist is a millionaire and lives in a London home worth upwards of two million. Someone had best tell them he’s called Ed Miliband.


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