Did those around Gordon Brown create the conditions for the Libor fixing scandal? According to George Osborne, the answer is yes. In his cover feature this week, James Forsyth speaks to the Chancellor of the Exchequer, who takes aim at his opposite number, stating those in the last government were ‘clearly involved.’
In our latest View from 22 podcast, James discusses how the trail may lead to these key figures from the last government:
‘During the 2008 financial crisis, it seems there was a concerted effort to keep Libor low. This prevented banks from being nationalised. But it also raises the question of whether anyone from the last government was involved in these attempts to keep the Libor rate down.’
Osborne tells us Brown’s team were clearly involved and claims they have questions to answer. In particular, he wants to hear from Ed Balls, Gordon Brown’s right hand man, even if he was Children’s Secretary at the time.’
Our business editor Martin Vander Weyer also discusses the career of Bob Diamond, his departure from Barclays and what it means for the firm and the City of London. Fraser Nelson also discusses the increasing power of judges and the legal system throughout the UK. You can listen below with the embedded player or subscribe through iTunes. As ever, we’d love to hear what you think, good or bad.
Subscribe to The Spectator today for a quality of argument not found in any other publication. Get more Spectator for less – just £12 for 12 issues.