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Libor emails ‘show Bank of England’s efforts to get banks to lower rate’

Libor emails ‘show Bank of England’s efforts to get banks to lower rate’

John Mann, an MP on the Treasury Committee, has released emails showing the Bank of England had concerns about the level of Libor at Barclays, HSBC and RBS in 2008.

The release of the emails, first seen by ITV News, came minutes before Bank of England governor, Mervyn King, and his deputy, Paul Tucker, faced MPs investigating the Libor scandal that has engulfed Barclays.

John Mann was reported as calling the emails, obtained by through a freedom of information request, “explosive” and showed the central bank in 2008 encouraging the three bank to lower Libor.

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The Telegraph | July 17th 2012

David Cameron criticised for attacks on Freedom of Information Act

Information commissioner says remarks criticising act may be encouraging ‘bad behaviour’ among civil servants

The information commissioner has accused David Cameron and other members of the political establishment of launching a damaging attack on the Freedom of Information Act which he says is encouraging civil servants to obscure the government from proper scrutiny.

Christopher Graham said public condemnation of the law from the prime minister, Tony Blair and the former cabinet secretary Lord O’Donnell was “driving bad behaviour” and possible illegal activity in Whitehall. He said the coalition may have abandoned its promise to be the most transparent ever because of the pressures of power.

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Rajeev Syal | The Guardian | July 16th 2012

U.S. Treasury staffer solicited hookers        

A freedom of information request revealed several incidents of major ethical breaches at the Department of Treasury, involving the solicitation of prostitutes using government resources as well conflict of interest concerns.

This is the latest in a string of embarrassments and scandals for the Obama administration; the staffers involved have not been prosecuted because they didn’t include “underage prostitutes or human trafficking.”

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Anne Sorock | Legal Insurection  | July 17th 2012

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