British Government Implicated in LIBOR Banking Scandal

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Taibbi writes: "This Libor-manipulation story grows crazier with each passing minute. We have officially disappeared now down the rabbit-hole of the international financial oligarchy."

Barclays former-President Robert Diamond was the first to fall, will members of the British government be next. (photo: Dylan Martinez/Reuters)

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+25 # pernsey 2012-07-05 18:28

Why am I not surprised?

+11 # DPM 2012-07-05 21:19

Quoting pernsey:

Why am I not surprised?

I don't know. I'm not. Well, I'm kind of surprised any of this is being made public. Perhaps a little more surprised if it goes any further than a janitor, at the bank, being blamed and sentenced to life at hard labor. But, right now...not surprised.

+25 # CreativeBlue 2012-07-05 21:40

What's a half a percentage points among friends? I mean, it's not like the whole world's economy is gonna collapse, is it?

Oh, wait...

+27 # KrazyFromPolitics 2012-07-05 23:13

Like pernsey,I'm not surprised, but I'm really pissed-off that people with no moral compass are allowed into high places. With that said, where is the DOJ, Scotland Yard, et. al. I guess that has become a rhetorical question, unless you are part of the 99%. when you stop and think about it, 99% of the population could push back hard against 1%, if they had the collective will and solidarity.

+19 # brucbaker 2012-07-06 02:25

FRACTIONAL RESERVE LENDING.... the secret world of only having 15% or less cash on hand while the banks books show a shadow value of what the bank is supposedly worth.

Indeed, Banks have NEVER been worth what they say they are worth and the solid front of hiding the pea in the game of banking ... rarely allows the public to see what actually is going on, unless ... someone cracks and spills the beans ... the pea is under NONE of the cups being shifted about ...

+11 # hobbesian 2012-07-06 02:48

He's coming OUT of a place with a portcullis? Turn him around, push him back in, lock him up and throw away the key. And then let's start on the Brit Govt. Bread and water.

+2 # dick 2012-07-06 04:33

WHEN is Obama going to lead the effort to hold crooks accountable? Sure looks like he's obstructing justice (impeachable) and in collusion with the worst. Economy is stagnating. Obama's silly little Stimulus was a travesty. Wall St. Trickle Down isn't working. Only indictments of crooks who did this will save Dems, who want US to fear T-Party, not GLOBAL Corporations. Send $$ to Liz.

+16 # John Locke 2012-07-06 04:42

If the British government was indeed involved, so was the US Government and our "Federal Reserve"!

+11 # ritaague 2012-07-06 06:29

International staph infection of greed and power addiction is what I call it. And, right on the Occupy Wall Streeters are as we chant .....

GLOBAL REVOLUTION IS THE SOLUTION !!!

I sensed a warning flag of global economic disaster caca (oh so profitable for the 1% and crippling for the 99%) happening in Oct. of 2008, as a friend helped me move my trawler along the Intra Coastal Waterway, down to Florida. My friend's daddy was lt. gov. under Reagan in California, then went on to be a U.S. Rep.. Her son, still well connected, is a financial consultant. The son emailed his mom that a two week bank holiday (a.k.a. financial crash) was coming. No matter that it (the 2 week shutdown) didn't happen. Much else did.

+8 # cordleycoit 2012-07-06 06:34

I am shocked that bankers and politicians have as usual conspired to defraud the public. I am not shocked that nothing will come of the ripoff. Corruption runs deep in London even as every person is watched, weighed,identif ied,taxed and tracked. The People are dangerous to a totally corrupted system. With the bankers and press lordsit's catch and release.

+7 # elmont 2012-07-06 07:18

Once again, Matt takes a glaze-your-eyes -over incomprehensibl e story, replete with acronyms and insider jargon, and makes it understandable to us hoi polloi. Kudos.

+14 # ABen 2012-07-06 08:35

So Romney and the Wall Street bankers want to repeal Dodd-Frank as too restrictive of the banking industry. Why would any thinking person vote for this stooge? Sure Romney knows how to fix our economy--fix it for his fellow vulture capitalists! If he manages to hoodwink the electorate, look for Recession Part Duex in his first term.

+10 # JSRaleigh 2012-07-06 09:37

This is how so-called "free markets" always work. The big corporations collude with government assistance to defraud everyone else.

When they get caught they pay a fine - 1% of the take - while denying any wrong doing and start looking around for a new swindle.

"Free markets" are like "free lunch".

+5 # Texas Aggie 2012-07-06 19:24

What this email is supposed to do is justify Diamond's and Barclay's actions. What it actually is is the age old excuse of war crimes, "Just following orders."

Nurenburg showed us what that excuse is worth and this episode doesn't change a thing. All it does is expand the search for those who need to spend time as guests of the state contemplating their sins.

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