The Bank Of England Made Me Do It

Tyler Durden's picture

Wonder who was pushing Barclays to manipulate its rate? Why none other than the English Fed. From BBG:

  • BARCLAYS SAYS BANK OF ENGLAND CALLED ON OCT. 29, 2008 ON LIBOR
  • BARCLAYS SAYS DIAMOND MADE NOTE OF CALL
  • BARCLAYS SAYS DIAMOND RECEIVED CALL FROM PAUL TUCKER
  • BARCLAYS SAYS TUCKER SAID `CERTAIN' BARCLAYS DIDN'T NEED ADVICE
  • BARCLAYS SAYS TUCKER SAID DIDN'T ALWAYS NEED TO BE SO HIGH (Supposedly LIBOR)
  • BARCLAYS PROVIDES COPY OF DIAMOND'S CALL NOTE
  • BARCLAYS SAYS DIAMOND DIDN'T BELIEVE HE HAD GOT INSTRUCTION
  • BARCLAYS SAYS DEL MISSIER CONCLUDED INSTRUCTION HAD BEEN GIVEN
  • BARCLAYS SAYS DEL MISSIER TOLD RATE SETTERS TO LOWER RATES

In other words, a central banks was directly and indirectly involved in manipulating interest rates. Say it isn't so. Fast forward two months when the BOE's Tucker testifies that the Chairsatan made him do it.

And below is the "note"