Peter Cummings (you won’t have heard of him – that’s the point) is, singled out alone, taking the rap for the misdeeds of the whole banking class and their behaviour, arrogant and reckless at worst and severely negligent at the very least, which has impoverished the great majority of British people (virtually everybody except themselves) for the last 5 years and probably for the next 5 years too. Continue reading
Tagged with LIBOR fixing
Why are the Tories so coy about a judge-led inquiry?
Parliament was at its worst yesterday. The mud wrestlers Osborne and Balls were so dementedly determined to lay toxic blame on each other for the shocking LIBOR scandal that the City escaped with hardly a bruise to its name. The difference between a judge-led inquiry and a special parliamentary select committee inquiry is not that huge, but as at Ypres those few yards of terrain were fought over with such ferocity as though the next election depended on it. But one question hung over the assembled battleground, unanswered. Why were Osborne and co. so obsessively manic about blocking a judge-led inquiry? Continue reading
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Bank inquiry could open up secret Tory-City deals which threaten government
So why are the Tories so determined to block a proper judge-led inquiry into the whole corrupt culture of banking which is so obviously needed? Their only argument is the need for speed to deal with the shocking LIBOR revelations. Ed Miliband yesterday at PMQs neatly overturned that argument by saying that a judge-led inquiry should concentrate immediately on the LIBOR issue and report on it by the end of December, and that then their wider but time-limited inquiry should report on the broader record and culture of the banks within the next 12 months. Cameron would have none of it. Why? Continue reading
