Siobhan Kennedy
It’s difficult to overstate the significance of the Serious Fraud Office’s charges against Barclays PLC and the four senior Barclays bankers- including John Varley, its former boss and one of the most high profile names in the City.
Siobhan Kennedy
First it was Libor. Now Britain’s biggest banks are poised to disclose massive fines for their role in the manipulation of the global foreign exchange market, or Forex.
The raid on Barclays is shocking on two levels: the physical breach of security, and the technology flaws that led to the theft of £1.3m. Barclays now faces serious questions on both fronts.
Jon Snow
Amid the slurry of excessive bonuses and the exploitation of unsuspecting small and medium-sized businesses, the government has had a dramatic change of heart on banking.
Three Scots and no women will investigate the Barclays Libor scandal, writes Michael Crick.
Jon Snow
Alan and Margaret thought they were the only people in the world to fall for a financial product misold to them by a bank. It wasn’t until they met hundreds of other victims on-line that their lives began to recover hope. Jon Snow reports on the campaign against mis-selling in tonight’s Dispatches.
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.
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.
Treasury Select Committee chair Andrew Tyrie drops a bombshell, Faisal Islam at the hearing looks at revelations so far.
Gary Gibbon
Being “physically ill” and displaying good manners, Gary Gibbon examines Bob Diamond’s performance at the Treasury Committee.
Gary Gibbon
Gary Gibbon blogs on who the Treasury select committee may want to call to explain themselves.
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
The email from Bob Diamond to fellow Barclays bosses raises serious questions for the Bank of England’s Paul Tucker, seen by many as the heir apparent to Mervyn King. Gary Gibbon blogs about the latest development in the Libor scandal.
We have entered a new world. Politicians now appear sovereign over our banking system. Many in Britain will welcome that. For many, it will be a profound shock. And this is just the beginning, writes Faisal Islam.
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.