Labour and Libor

Published on 04/07/2012 00:00

A paper by Baroness Vadera, variously known as “Shriti the Shriek” or “Gordon Brown’s representative on Earth”, appears to involve Eds Balls and Miliband in the Libor scandal.

This might explain why the Labour leader is so insistent on a full-scale public inquiry – the parliamentary equivalent of kicking the whole issue into the long grass.

In addition, an interesting telephone conversation took place between Barclays’ then chief executive Bob Diamond and Bank of England deputy Paul Tucker concerning Libor.

Apparently “no minute or recording of the conversation was made” (which is very surprising) and the pair “have different recollections of it” (which is very unsurprising).

At the moment everyone is denying everything but it would certainly appear that this is just the tip of the iceberg and Barclays is merely the first to get caught in the wringer.

(Dr) John Cameron

Howard Place

St Andrews

With the resignation of Mr R Diamond of Barclays over the actions of his subordinates can we now expect politicians to follow this lead?

Mr G Brown MP, Mr A Darling MP, Mr E Balls MP and Mr E Miliband MP were all far more directly responsible for a far bigger economic disaster and the loss of financial credibility yet they are all still on the state payroll. Should they all not have resigned?

Bruce D Skivington

Strath

Gairloch, Wester Ross

Should we be surprised at the critical indebtedness of the Western world and the recent revelations concerning banking malfeasance?

ln 1927, Sir Josiah Stamp, formerly president of the Bank of England, affirmed that “the modern banking system manufactures money out of nothing. The process is perhaps the most astonishing piece of sleight of hand that was ever invented. Banking was conceived in iniquity and born in sin.

“Bankers own the earth and if we want to be slaves of the bankers and pay the cost of our slavery then let bankers continue to create money and control credit.”

Today, the Bank of England creates, out of nothing, 97 per cent of the government’s spending requirements and thus actually controls all human activity in the country. Britain’s now irredeemable national debt proves the truth of Sir Josiah’s definition of slavery to the banking system and thc consequent beggary of the nation – as so dramatically evidenced in Greece.

MM Henderson

Iddlesleigh Avenue

Glasgow