places , in the EU.
Well, they're going for the next coup, and it's a biggie.
The Bank of England is the ineffectual central bank
of the UK. Mervin King will be retiring soon and his
Number 2 man, Paul Tucker was set to take over,
except that he seems to be involved in the Libor
scandal, or that's what we've been told.
Why does this matter?
The other main candidate for the job is a GS man.
Jim O'Neill. It is possible that he may have had
a hand in opening his own path to the top.
Robert Peston, the ineffectual BBC business expert
has swung into the fray on a GS vine, it seems,
to point the finger at Tucker. Et tu, Peston?
How is it that he woke up after spending so much
time ignoring or covering up banker guilt?
Makes one scratch the head.
checkit: Zerohedge
Is
The Bank Of England About To Be Dragged Into Lie-borgate, And Which US Bank Is
Next
Submitted
by Tyler Durden on 07/01/2012 11:42 -0400
While
the Lieborgate scandal gathers steam not so much because of people's
comprehension of just what is at stake here (nothing less than the fair value of $350 trillion in interest-rate
sensitive products as explained in February), but simply courtesy of several
very vivid emails which mention expensive bottles of champagne, once again
proving that when it comes to interacting with the outside world, banks see
nothing but rows of clueless muppets until caught red-handed (at which point
they use big words, and speak confidently), the BBC's Robert Peston brings an unexpected actor into the fray: the English Central Bank and specifically Paul
Tucker, the man who, unless Goldman's-cum-Canada's Mark Carney or Goldman's Jim O'Neill step up, will replace
Mervyn King as head of the BOE.
From
the BBC:
In making false submissions about their
borrowing costs, managers at Barclays
believed they were operating under an instruction from Paul Tucker, deputy
governor of the Bank of England, I have learned.
