Arrogant Osborne still refusing full banking inquiry – even as Diamond resigns

George Osborne again ruled out a full public inquiry into the scandal-plagued banking sector - even as disgraced Barclays chief Bob Diamond finally resigned.

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George Osborne again ruled out a full public inquiry into the scandal-plagued banking sector – even as disgraced Barclays chief Bob Diamond finally resigned.

Bob-Diamond-George-Osborne
On the Today Programme this morning, replying to Nick Robinson’s remarks in response to Diamond’s departure:

“The question is, where that pressure, where that anger now leads, we know that public anger with banking has been brewing for four years, who on Earth would have predicted that a narrow technical issue over the setting of a rate that frankly most of us hadn’t heard of…

Labour are arguing that that needs now to be eased by having a sort of truth and reconciliation commission, a full public inquiry, no holds barred, in which all these bankers can appear in court questioned by either a judge or by a QC in the way that the press have been questioned, the politicians and the police at the Leveson Inquiry, the chancellor has chosen a much, much narrower inquiry, what the chairman told me, Andrew Tyrie yesterday, that would be ringfenced solely to the lessons to be learnt from this Libor scandal and to be run by politicians, and there will be not one, but possibly three votes in the next few days in which Labour try to defeat the government and get their wider and fuller inquiry.”

The chancellor said:

“I don’t think a long public inquiry that will take months to set up, maybe two years to run, and then lead to legislation in 2016/27 [sic] is frankly what the country wants at the moment.

“We’ve had a detailed investigation into what went wrong, we’ve got all the emails and the texts and all that kind of thing from the FSA report, what we need to do is put this right and we currently have legislation going before parliament, which we can amend, which we can change, so we can change the law, and I think, look, once Labour lose the vote today, as I suspect they probably will, I think they will see sense and join in with an inquiry which I want to command all-party support, a proper parliamentary inquiry with real powers to hold evidence under oath and I think we will get some answers in the next few months instead of waiting till a decade after the scandal itself to come up with any answers, so let’s get on with the job, I’m sure Labour will not want to stand in the way of that inquiry, and I’m sure they will see sense, because after all, they have questions to answer as well.”

 


See also:

RBS dragged into Libor scandal 1 Jul 2012

Miliband redirects Barclays rage to Cameron over PM’s inaction 30 Jun 2012

After the Barclays Libor scandal, how long must we wait for a public inquiry? 29 Jun 2012

George “regulation was too burdensome” Osborne attacks Labour for being too lax 28 Jun 2012

Miliband: Time for prosecutions, proper regulation and an end to the “casino culture” 28 Jun 2012


 

There you have it then – Osborne ploughing on regardless, sticking by the narrowest of inquiries, putting barriers in the way of a full inquiry – and all this despite the fact Andrew Tyrie, chair of the Treasury select committee, and the man likely to head up any parliamentary inquiry, has said he doesn’t believe it could take place without cross-party support.

 


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28 Responses to “Arrogant Osborne still refusing full banking inquiry – even as Diamond resigns”

  1. cutchswife

    RT @leftfootfwd: Arrogant Osborne still refusing full Libor inquiry – even as Diamond resigns: http://t.co/lJGUVxw1 by @ShamikDas

  2. John Davies

    Arrogant Osborne still refusing full banking inquiry – even as Diamond resigns: http://t.co/hANm1Na6 by @ShamikDas #Libor

  3. Habeeb Yusuf

    Arrogant Osborne still refusing full banking inquiry – even as Diamond resigns: http://t.co/hANm1Na6 by @ShamikDas #Libor

  4. BevR

    RT @leftfootfwd: Arrogant Osborne still refusing full Libor inquiry – even as Diamond resigns http://t.co/vEXLBdw6

  5. Mark Wright

    Arrogant Osborne still refusing full banking inquiry – even as Diamond resigns: http://t.co/hANm1Na6 by @ShamikDas #Libor

  6. Ann Pettifor

    Arrogant Osborne still refusing full banking inquiry – even as Diamond resigns: http://t.co/hANm1Na6 by @ShamikDas #Libor

  7. Tim

    Arrogant Osborne still refusing full banking inquiry – even as Diamond resigns I Shamik Das – http://t.co/6WmcnlZE

  8. Birmingham Clarion

    Arrogant Osborne still refusing full banking inquiry – even as Diamond resigns I Shamik Das – http://t.co/6WmcnlZE

  9. BevR

    RT @leftfootfwd: Arrogant Osborne still refusing full Libor inquiry – even as Diamond resigns http://t.co/vEXLBdw6 Wonder Why?

  10. Political Planet

    Arrogant Osborne still refusing full banking inquiry – even as Diamond resigns: George Osborne again ruled out a… http://t.co/idQWQBon

  11. john dory

    Arrogant Osborne still refusing full banking inquiry – even as Diamond resigns: http://t.co/hANm1Na6 by @ShamikDas #Libor

  12. Pulp Ark

    Arrogant Osborne still refusing full banking… http://t.co/NvCjlf2w #CleanPolitics #banking #Barclays #BobDiamond #muslim #tcot #sioa

  13. Pete Brown

    Arrogant Osborne still refusing full banking inquiry – even as Diamond resigns: http://t.co/hANm1Na6 by @ShamikDas #Libor

  14. Claudine Letsae

    Arrogant Osborne still refusing full banking inquiry – even as Diamond resigns: http://t.co/hANm1Na6 by @ShamikDas #Libor

  15. leftlinks

    Left Foot Forward – Arrogant Osborne still refusing full banking inquiry – even as Diamond… http://t.co/3VqOZrq7

  16. The Media Filter

    Arrogant Osborne still refusing full banking inquiry – even as Diamond resigns: http://t.co/hANm1Na6 by @ShamikDas #Libor

  17. Xanno M

    RT @leftfootfwd: Arrogant Osborne still refusing full banking inquiry – even as Diamond resigns: http://t.co/1nW5LhZc by @ShamikDas #Libor

  18. Anonymous

    Lets have an inquiry into the real scandal. Accounting fraud in government.

    Why has the government hidden all the really big debts off the books?

  19. HeyHo ~ Len

    Arrogant Osborne still refusing full banking inquiry – even as Diamond resigns: http://t.co/hANm1Na6 by @ShamikDas #Libor

  20. Once again, hypocrital, deregulation-loving Osborne attacks Labour over bank regulation | Left Foot Forward

    […] See also: • Arrogant Osborne still refusing full banking inquiry – even as Diamond resigns 3 Jul […]

  21. Stephen Wigmore

    For God’s sake. We know what the banks did wrong. We’ve alread had various investigations. ow is the time for action not more pointless pontificating in Westminster. Tell us what you are going to do about it. Not who you think should waste time and money looking into it. Labour are a joke.

  22. Anonymous

    And, of course, the key question – why haven’t you paid up?

  23. Anonymous

    We do? Great, let’s fix it then. And what action, another billion taken from the poor? That seems to be the standard these days.

    Of course, given we DON’T actually know the full extent…
    (Oh, and of course you have to denigrate the role of the opposition in general)

  24. Harry Devonport

    Arrogant Osborne still refusing full banking inquiry – even as Diamond resigns: http://t.co/hANm1Na6 by @ShamikDas #Libor

  25. Ls

    Arrogant Osborne still refusing full banking inquiry – even as Diamond resigns: http://t.co/hANm1Na6 by @ShamikDas #Libor

  26. Alex Braithwaite

    RT @leftfootfwd: Arrogant Osborne still refusing full banking inquiry – even as Diamond resigns http://t.co/ej7q5RaI

  27. Janet Graham

    Arrogant Osborne still refusing full banking inquiry – even as Diamond resigns: http://t.co/hANm1Na6 by @ShamikDas #Libor

  28. Shamik Das

    Arrogant Osborne still refusing full banking inquiry – even as Diamond resigns: http://t.co/hANm1Na6 by @ShamikDas #Libor

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