How close was Barclays to the abyss in 2008?
Today’s cache of Paul tucker emails released by the Bank of England puts the Libor scandal in a rather different context. The big picture here: the post-07 Libor “scandal” is the tree. The concerning financial health of Barclays Bank in October 2998 is the woods. The now Deputy Governor of the Bank of England is shown to be exchanging emails about Barclays’ financial position from a full week before the famous conversation that some have depicted as a Labour plot to illegally to manipulate Libor.