It’s a real toughie for them, isn’t it? I mean the BBC seemed so delighted, ecstatic even, that Bob Diamond has gone but now..gulp… Labour have been dragged into the whole “Who fixed Libor” scandal. And with Brown and Balls in the frame, along with other luminaries such as Darling, damage control has to be exercised.
Anyone catch Lord Myners on Today this morning being given a gentle canter around the topic. His line is that no one in Government would have been talking to the BOE about the need to lower LIBOR and that this is just a Tory wind up to distract from their own problems. Thing is – I am sure that you, dear reader, like me, well remember the BBC droning on and on about the fact that the evil banks were NOT lowering LIBOR back in 2008. This was presented as a major impediment to economic recovery back then yet now, as scandal threatens Labour, the memory banks are erased. It wasn’t a big issue it seems; no one in Government talked about it; wheat production was at record levels. HOW can the BBC let Labour get away with this outrageous revisionism? How can we let the BBC away with their duplicitous role in this? The FACT is that the BBC raised LIBOR lending as a massive issue, I can remember discussions on Today and elsewhere, but now it accepts the sanguine line spun by Liebor that it wasn’t an issue for discussion. That would have been inappropriate, it seems!! This is damage control being facilitated by the State Broadcaster.