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

Labour Beats UKIP in South Yorkshire | LabourList
Mock the Week’s Weak Comedy | Nigel Farage
Can Jim Murphy Save Scottish Labour? | Guardian
There is Still Appetite for the Westminster Lunch | Jon Craig
Labour Turn Their Backs on Jewish Community | Dan Hodges
Chivalry is Not Dead | Laura Perrins
Jonathan Jones is a Tw*t | Iain Dale
Second Scotland Poll Suggests Labour Wipeout | Times
Paedo Probe Boss Urged to Quit | Sun
Keynesian Tories Won’t Eliminate Deficit | Tim Montgomerie
Whitehall Doesn’t Work | Dom Cummings


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David Cameron drug policy reformer and leadership contender in 2005…

“Politicians attempt to appeal to the lowest common denominator by posturing with tough policies and calling for crackdown after crackdown. Drugs policy has been failing for decades.”



“Digger” Murdoch says:

Is it just me, or is Nigel Farage just a top hat and a monocle away from being a Batman villain?


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