UK commissioner want outside QC to question bankers
“There are very few barristers and QCs in the Commons with the experience of mounting a detailed and probing line of interrogation.”
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A “pervasively polluted” culture allowed HSBC to be used by clients in Mexico, Saudi Arabia, Iran and Syria, to launder dirty money around the world, says a US senate committee report.
HSBC was used by ‘drug kingpins’ to launder money, according to a US Senate committee investigating the banks.
The UK economic forecast is cut and the global recovery shows further signs of weakness, the International Monetary Fund said in its World Economic Outlook today.
The committee investigating the Libor rate-fixing scandal questions Jerry del Missier, Barclays’ ex-chief operating officer, who reportedly earned £40m a year when the bank was rigging interest rates.
“There are very few barristers and QCs in the Commons with the experience of mounting a detailed and probing line of interrogation.”
It is as if there is a quantitative disease in government; a quantitative collapse of leadership on visionary projects for the future.
The US pressed the Bank of England to improve the Libor system before Lehman Bros collapsed in 2008 amid reports that Barclays and other global banks were rate rigging, newly released e-mails show.
Shadow chancellor Ed Balls claims we’re more likely to be divorced than to change our bank accounts. FactCheck investigates whether we really love our banks more than our partners.
Spain’s troubled banking sector secures a 30bn euro bailout following an emergency meeting of eurozone finance ministers.
MPs on the Treasury Select Committee have a chance this afternoon to do a little to remedy their own disparate efforts to question Barclays’ Bob Diamond. Diamond walked all over them.
As Bank of England Deputy Governor Paul Tucker appears in front of MPs, the bank releases emails that shed more light on the Barclays rate-fixing scandal.
Lords reform is looking shaky: a failure to get the programme motion is a breach of the working practices of the Coalition agreement, one said, and “that would mean retaliation.”, writes Gary Gibbon.
You might think reading George Osborne’s words suggesting Labour ministers instigated the Libor fixing or were complicit in some way, that the Chancellor is sitting on some juicy evidence. Perhaps he’s learnt something from a long-serving Treasury hand who knows where the bodies are buried? Not so, writes Gary Gibbon.
Being “physically ill” and displaying good manners, Gary Gibbon examines Bob Diamond’s performance at the Treasury Committee.
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.