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

How Mervyn King Lost Bank Battle War | WSJ
BBC Corporation Tax Horror Story | IEA
Sally Bercow Judgement in Full | Mr Justice Tugendhat
Commies Blame Capitalism For Terror Attack | The Commentator
Lord Black v Press Regulation | Guardian
Osborne’s Complacency | FT
DWP’s Welfare Failings | Isabel Hardman
Get Used to Coalitions | David Aaronovitch
Woolwich a Showcase in the Banality of Evil | Fraser Nelson
The Enemy Within | Max Hastings
Muslim Led Military-Style Free School Needed | Toby Young


Zimbabwe-Election-125x125
Guido-hot-button (1)


Ed Balls stretches credulity by claiming he isn’t ambitious

“I would love to be part of Ed’s Labour government but what I do next for me is not an all-consuming passion. I’m more bothered, in a personal sense, about getting to grade 8 piano by the time I’m 50.”



Ned Flanders – Clegg
Lisa Simpson – Natalie Bennett
Milhouse – Hilary Benn
Martin Prince – Andy Burnham
Edna Krabappel – Luciana Berger
Crazy Cat Lady – Glenda jackson
Comic book guy – John Prescott
Carl – Chucka
Lenny – Philip Hammond
Willie – Eric joyce
Poochie – Gordon Brown
Reverend Lovejoy – Tony Blair


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