blackmail. They warn the government of dire
consequences if those banks are no allowed to rob,
cheat and steal.
I'm afraid, though, that the Bank of England will be
the weakest link. It has probably been complicit in
helping the banks with wrongdoing. it's official
blind-eye policing is what allows bankers to
walk around with their heads still attached.
this is why the Bank and government agree to
follow the bankers' orders. The "regulators" sit
down over lunch with the bank(s) and discuss what the
fine should be for their latest jail-able crime,
and what problems the company is
having.
checkit: Jesse's cafe
Credibility Trap: Barclays' Bob Diamond Threatens
British Parliament With 'Embarrassing Revelations'
"Oh
what a tangled web we weave,
When first
we practise to deceive."
Sir Walter
Scott, Marmion
This is the credibility trap for government regulators
and officials who have played fast and loose with market manipulation when it
suited their purposes in the past.
I wonder if Jamie Dimon has similar 'dirt' on the
Congress and the regulators. JPM would be in a good position for that, given
their past involvement with the Exchange Stabilization Fund and their major
role in the metals markets.
The power brokers say that bribery is good, but
blackmail is better, more reliable. And so it may be.
Let's see if Mr. Diamond can intimidate the British
Parliament and make them dance to his tune. He has certainly thrown down the
gauntlet as they say.
Financial
Times
Barclays
chief threatens to hit back
By Patrick
Jenkins, Brooke Masters and George Parke
Bob Diamond is threatening to reveal
potentially embarrassing details about Barclays’ dealings with regulators
if he comes under fire at a parliamentary hearing on Wednesday over the Libor
rate-setting scandal, according to people close to the bank’s chief executive.
“If he is attacked, he will fight back,”
said one person familiar with preparations for the Treasury select committee
hearing...
