Treasury twins convert to contingent Keynesianism
“We’ve got a big job to do in getting this economy back on its feet,” — Osborne.
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“We’ve got a big job to do in getting this economy back on its feet,” — Osborne.
If Sir Mervyn King can arrange for Bob Diamond’s demise at Barclays, even though he was cleared of personal wrongdoing over Libor, why not exercise a little more coercive power over banks lending money into the real economy?
Bob Diamond gives evidence to the Treasury Select Committee a day after he was forced to stand down as Barclays chief executive following the Libor index “rigging” scandal.
Former Barclays chief executive Bob Diamond tells MPs he did not believe he was “instructed” by the Bank of England to submit lower borrowing rates during the 2008 financial crisis.
Channel 4 News Political Editor Gary Gibbon blogs about the government’s plans for a banking inquiry
Following the resignation of Bob Diamond in the midst of the bank lending scandal , Barclays releases a memo of a phone conversation between Mr Diamond and Bank of England Deputy Governor Paul Tucker.
Bob Diamond breaks his silence in an open letter to the Treasury select committee chairman, denying that senior staff were involved in fixing the bank’s rates. Read his letter in full.
Barclays is to pay £290m in fines for attempting to manipulate inter-bank lending rates for its own gain as its chief executive agrees to give up his bonus.
Sir Mervyn King, the governor of the Bank of England, today used the continuing IT meltdown at RBS and NatWest to criticise the structure of the bailed-out banking group. He had stern words for RBS’s management, saying that the FSA should carry out a “full investigation” of the week-long computer problems.
RBS’s computer meltdown is being blamed on a computer software upgrade. Channel 4 News looks at what appears to be a human error – but one that could affect millions of customers.
With pro-bailout parties discussing the formation of a new government in Greece, Channel 4 News looks at what happens next in the euro saga.
As the eurozone crisis consumes billions of pounds and leaves people fearing for their jobs, it has given people one thing – a totally new vocabulary.
“Many in the crowd believe in one simple equation – A Syriza win equals a bank run on Sunday evening.”
Prime Minister David Cameron pledges that he will not ask British taxpayers to underwrite the debts of ailing banks in Greece and Spain.
Why has the Bank of England decided against printing more money despite a recession in Britain, an intensification of the eurocrisis and advice from the IMF that now is the time to act?