{"id":184208,"date":"2012-07-03T19:21:00","date_gmt":"2012-07-04T00:21:00","guid":{"rendered":"https:\/\/www.panix.com\/~msaroff\/40years\/2012\/07\/03\/and-then-they-turn-to-blackmail\/"},"modified":"2012-07-03T19:21:00","modified_gmt":"2012-07-04T00:21:00","slug":"and-then-they-turn-to-blackmail","status":"publish","type":"post","link":"https:\/\/www.panix.com\/~msaroff\/40years\/2012\/07\/03\/and-then-they-turn-to-blackmail\/","title":{"rendered":"And Then They Turn to Blackmail"},"content":{"rendered":"<p>The latest twist in the Barklays LIBOR price fixing scandal is that the (now former) CEO of the bank <a href=\"http:\/\/www.bbc.co.uk\/news\/business-18688417\">tried to blackmail the Bank of England<\/a>:<\/p>\n<blockquote style=\"color: blue;\"><p>The chairman resigns to save the CEO. The CEO makes a public threat to drag the central bank into the mire. And the previous government. And the Treasury.<\/p>\n<p>Next morning, the CEO resigns and the chairman re-installs himself to &#8220;oversee transition&#8221;. The police, who said they could not prosecute, now say they might.<\/p>\n<p>You have just seen the British establishment operating at a level of panic and indecision on a par with the Norway disaster in 1940. And it is not over.<\/p>\n<p>These are people whose job is to speak to each other on a daily basis. But trust is shattered at the very top of the financial system.<\/p><\/blockquote>\n<p>He was claiming that the Bank of England approved the manipulation of the crucial interbank lending rate, there are witnesses who corroborate this:<\/p>\n<blockquote style=\"color: blue;\"><p>On a crucial day (29 October 2008) the Bank of England&#8217;s Paul Tucker had a conversation with Bob Diamond, as a result of which, more junior Barclays employees came away with the impression that they had been instructed by the central bank to manipulate Libor down.<\/p><\/blockquote>\n<p><img decoding=\"async\" src=\"http:\/\/i.imgur.com\/1IPmi.jpg\" style=\"cursor: pointer; float: right; margin: 0px 0px 10px 10px;\" width=\"300\" \/>I want the same thing as the cat, someone frog marched out of their offices in handcuffs.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The latest twist in the Barklays LIBOR price fixing scandal is that the (now former) CEO of the bank tried to blackmail the Bank of England: The chairman resigns to save the CEO. The CEO makes a public threat to drag the central bank into the mire. And the previous government. And the Treasury. Next &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[970,984,1004],"tags":[],"class_list":["post-184208","post","type-post","status-publish","format-standard","hentry","category-corruption","category-europe","category-finance"],"_links":{"self":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/184208"}],"collection":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/comments?post=184208"}],"version-history":[{"count":0,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/184208\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/media?parent=184208"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/categories?post=184208"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/tags?post=184208"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}