Tuesday, July 03, 2012

Barclays RED phone conversation with Paul Tucker

Click on the text for full-size

The rather excellent @cathynewman, Presenter for Channel 4 News, tweets a link to the above, with a comment, "This is dynamite". It is heavily retweeted.

RED, presumably, is Robert Edward Diamond, ex- (as of this morning) CEO of Barclays.
Paul Tucker in now Deputy Governor of the Bank of England (BoE).

It seems from the note that both the BoE and Bob Diamond were aware, in 2008, that some fiddling of Libor rates was going on.

What does it all mean? Here is the excellent Paul Mason.

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