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The identity of the mystery woman from Greece in Pulp’s smash hit Common People may have finally have been revealed. But who was Sweet Caroline and who did Carly Simon think was So Vain?
Computer chaos at RBS, rate fixing at Barclays, HSBC used for money laundering. Banking has never been more criticised. So why do the job? Channel 4 News asks those with experience of the industry.
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.
Jon Snow
The reputation of the British Bankers Association has been brought low; the credibility of that agreed interest rate the Libor, has been traduced; the reputations of the mega forces at the top of British banking are on the floor; and confidence in the regulatory forces at the Financial Services Authority (FSA) and the Bank of England are also in question, writes Jon Snow.
Gary Gibbon
Channel 4 News Political Editor Gary Gibbon blogs about the government’s plans for a banking inquiry
Jon Snow
It seems impossible that the regulators did not know and simply went along with the Libor fiddling simply to save institutions that even by 2008 were far too big to fail. That’s a bold claim. But it is the claim that needs to be addressed.
Jon Snow
Has ‘too big to name, too big to prosecute’ now become the epithet by which this vast banking scandal will become known?