The LIBOR low-balling story continues on but there was an odd moment in the Today programme's interview with Lord Myners this morning (from around 08:10), in fact there were several. First Lord Myners categorically denied that he did not speak to Paul Tucker or anyone else at the Bank of England and said he was sure that nobody else at the Treasury would have done so. I note that this does not include Ed Balls then no officially longer in the Treasury but very much Gordon Brown's chosen man for economic matters. Nor does the denial include the great clunking fist himself.
The next point was the way certain matters were part of whose responsibility, this was the whole problem with Gordon Brown and Ed Balls tripartite regulatory framework; things could fall between the three parties.
The most interesting part is from 4:50 as John Humphrys lays the groundwork for the 'if Labour figures did push for lower LIBOR then it was in the national/public interest'. Unfortunately for the BBC, even Lord Myners wouldn't agree to that line of thought. I think it is a line that the BBC may well push if they have to. Don't forget the basic BBC message - VOTE LABOUR.
The next point was the way certain matters were part of whose responsibility, this was the whole problem with Gordon Brown and Ed Balls tripartite regulatory framework; things could fall between the three parties.
The most interesting part is from 4:50 as John Humphrys lays the groundwork for the 'if Labour figures did push for lower LIBOR then it was in the national/public interest'. Unfortunately for the BBC, even Lord Myners wouldn't agree to that line of thought. I think it is a line that the BBC may well push if they have to. Don't forget the basic BBC message - VOTE LABOUR.
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