Saturday, 14 July 2012

LIBOR inquiry let-down

Further to my posting of 5th July, the two most prominent critics of Barclay's on the Treasury Select Committee have been omitted from the parliamentary committee of inquiry into LIBOR fixing. John Mann, whose style was more confrontational than inquisitorial, will not be missed, but Andrea Leadsom, as a former insider, knew what questions to ask. It is to be hoped that the Lords will make a higher-powered contribution to the committee's membership.

Failing that, the appointment of a QC of the calibre of Robert Jay as counsel for the committee would be essential.

For more of how LIBOR was fixed, listen to OU/BBC's "More or Less".

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