Inquiry needed

Published on 12/07/2012 00:00

When Ed Balls was issuing his challenge to George Osborne in the Commons about what the latter knew about the Libor proceedings, he was careful to qualify it with the phrase “on this narrow point” (your report, 10 July).

So he seemed to be isolating Libor from any accusations lurking in the undergrowth about his role in the general financial debacle over which the Labour government presided over its 13 years.

In the words of the Labour MP serving on the Treasury Select Committee, John Mann, when questioning Bob Diamond, if he did not know, then he must have been incompetent.

It is incongruous that Mr Balls now has the audacity to claim so much competence regarding the solutions.

It takes little imagination to visualise the scrutiny Labour would have inflicted on these 
issues had a Conservative government been in power over the period – I doubt that the 
behaviour of the banks would have featured strongly, the fire being centred upon the same old Tories.

The sooner we have an 
inquiry, the better.

Douglas R Mayer 

Thomson Crescent

Currie, Midlothian