• Tim Knight from...
    04/28/2016 - 00:27
    I was expecting a few boring candidate statements of the U.S. Senate - AKA the World's Most Exclusive Club - but, boy, was I wrong. Just take a look at some of these gems.
  • Tim Knight from...
    04/28/2016 - 00:27
    I was expecting a few boring candidate statements of the U.S. Senate - AKA the World's Most Exclusive Club - but, boy, was I wrong. Just take a look at some of these gems.

Live Webcast Of Bob Diamond Testimony On Lieborgate

Tyler Durden's picture



We suspect the Treasury Select Committee hearing with Barclays ex-CEO Bob Diamond will have a few more fireworks than Jamie Dimon's congressional hearings. The Chairman of the committee noted "This is the most damaging scam I can recall" as the goal of the hearing is to ensure "the public know what went wrong and whether the perpetrators have been rooted out." While we will have our own fireworks on this side of the pond, we suspect the live stream below will contain more than a few as the independence of Libor remains in question.


Meeting details

Wednesday 4 July 2012, 2.00pm (9am ET), Wilson Room, Portcullis House


Bob Diamond

Commenting on the evidence session, the Chairman of the Treasury Select Committee, Andrew Tyrie MP, said:

"The Libor interest rate benchmark - crucial to transactions right across the economy and affecting millions of people - was systematically rigged over a period of years.


It appears that many banks were involved and Barclays were the first to own up.


This is the most damaging scam I can recall.


The reputation of Britain's financial services industry has been severely tarnished, albeit unfairly for the overwhelming majority unconnected with the scam.


The public's trust in banks has been even further eroded.


Restoring the reputational damage must begin immediately.


Parliament and the public need to know what went wrong and whether the perpetrators have been rooted out. We also need to be given confidence that this has been put right."


Live Stream Here 

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Wed, 07/04/2012 - 09:05 | 2586403 VonManstein
VonManstein's picture

"Off with thier heads" (bitchezz)

Wed, 07/04/2012 - 09:18 | 2586433 THX 1178
THX 1178's picture

You know "the time" is near when the wide world of finance resembles a soap opera.

Wed, 07/04/2012 - 09:28 | 2586462 Oh regional Indian
Oh regional Indian's picture

The time is NOW.

A little history lesson is fitting, because if you go back far enough, it all fits. Banks, Wars, innovation, Lying, boring.... and no one says it better than James Burke...



Wed, 07/04/2012 - 09:41 | 2586470 MillionDollarBonus_
MillionDollarBonus_'s picture

The Occupy Wall Street Movement has hired a team of researchers to carry out an extensive investigation to get to the bottom of this scandal. The team carried out an analysis of libor fixings going back over a number of years, and they have now come to the unanimous conclusion that this could have been prevented if the libor fixings had simply been mandated by the state, instead of a few selected investment banks. The reasoning behind this proposal is that while Corporations are motivated by profit and personal gain, government regulators are motivated by solid principles and a selfless commitment to virtue.  

Wed, 07/04/2012 - 10:11 | 2586527 i-dog
i-dog's picture


Wed, 07/04/2012 - 10:41 | 2586636 derek_vineyard
derek_vineyard's picture

Like anything meaningful will come of these hearings.  We can dream of truth and virtue, but reality is sobering.

At some point, these corrupt parasites will start being assassinated by each other.

Wed, 07/04/2012 - 10:53 | 2586676 WALLST8MY8BALL
WALLST8MY8BALL's picture

Rilo Kiley - "It's a hit"


Any chimp can play human for a day.
Use his opposable thumbs to iron his uniform
and run for office on election day
fancy himself a real decision maker
and deploy more troops than salt in a shaker.

But it's a jungle when war is made,
and you'll panic and throw your own shit at the enemy.
The camera pulls back to reveal your true identity.
Look, it's a sheep in wolf's clothing.
A smoking gun holding ape.

Any asshole can open up a museum.
Put all of the things he loves on display
so everyone could see them.
The house, a car, a thoughtful wife
ordinary moments in his ordinary life.

But if she breaks a smile, she'll give you away
'cause no one wants to pay to see your happiness.
No one wants to pay to see your day to day
and I'm not buying it either
but I'll try selling it anyway.

Any idiot can play Greek for a day
and join a sorority or write a tragedy
and articulating all that pain
and maybe you'll get paid.

But it's a sin when success complains,
and your writers block-it don't mean shit.
Just throw it against the wall and see what sticks.
Gotta write a hit
I think this is it.
It's a hit.

And if it's not,
then it's a holiday for a hanging
yeah it's a holiday for a hanging
yeah it's a holiday for a hanging
yeah shoo-bop-shoo-bop my baby

Any fool can play executioner for a day,
and say with fingers pointed in both directions
'he went thataway',
It's only a switch or syringe,
awh, exempt from eternal sins.
But you still wear a cross,
and you think you're gonna get in.

Ah, but the pardons never come from up-stairs.
They're always a moment too late,
but it's entertainment
keep the crowd on their toes,
it's justice, we're safe.
It's not a hit, it's a holiday
shoo-bop-shoo-bop my baby

It's a holiday for a hanging, yeah
It's a holiday for a hanging, yeah
It's a holiday for a hanging, yeah
It's a holiday for a hanging, yeah

I'm a holiday for a hanging,
I'm a holiday for a hanging,
I'm a holiday yeah
I'm a holiday for a hanging,

It's a holiday for a hanging, yeah

Wed, 07/04/2012 - 11:47 | 2586825 MunX
MunX's picture

I love that song.

Wed, 07/04/2012 - 12:15 | 2586904 The Big Ching-aso
The Big Ching-aso's picture



How court proceedings go in Never-Never Land...........................oh, wait.


"So Mr. Jones, you robbed the bank, shot the guard, got caught, and now you're sorry?"

"Yes your honor, I'm deeply sorry and regret my actions. It's not part of my culture."

"Well then, let the court records show that Mr. Jones is deeply sorry.   I hereby dismiss all charges."

"Thank you your honor.   I sincerely expect this will not happen again."


Wed, 07/04/2012 - 12:29 | 2586937 robertocarlos
robertocarlos's picture

That has actually happened in Canada.

Wed, 07/04/2012 - 10:13 | 2586531 nmewn
nmewn's picture


Up twinkles ;-)

Wed, 07/04/2012 - 12:12 | 2586885 sunaJ
sunaJ's picture

After watching a couple of hours of this testimony, I have come to the conclusion that my eight year-old dog, Buster, could also be a bank CEO.  Apparently, being a "stellar CEO" banker means only that you never admit knowing WTF is going on within your own company.  Buster can do that.

Tue, 07/10/2012 - 19:31 | 2604035 MeelionDollerBogus
MeelionDollerBogus's picture

Buster can also eat everyone else's bacon. That's also what bankers do.

Wed, 07/04/2012 - 10:17 | 2586548 Monedas
Monedas's picture

The OWS "Bowel Movement" wants to be cared for by selfless statist nannys who feed off moisture and nutrients in the air we contaminate with our carbon CO2 and bovine flatulence !   Statist nannys so altruistic you can't look at them directly for the glow of their halos !          Monedas        1929         Comedy Jihad Socialist Dreams Of Your Father    

Wed, 07/04/2012 - 10:21 | 2586565 Spastica Rex
Spastica Rex's picture

Was that English? I just don't know.

Wed, 07/04/2012 - 10:17 | 2586552 darkpool2
darkpool2's picture

You are so wonderful....really enjoy your posts. Tears of happiness well- up when i think of all those common-good folks that only have the wellbeing of their countrymen at heart....on this July 4th holiday , it becomes us to remember the fine officials and bureaucrats in ......China, Russia, Vitenam, Cuba, North Korea, ....i could go on, but i feel so overwhelmed.

Wed, 07/04/2012 - 10:19 | 2586559 Vet4RonPaul
Vet4RonPaul's picture

awesome!; MDB - where Krugman, Summers and Bernake go for their best material.  If MDB posted on a liberal blog he'd be a trillionaire.

Wed, 07/04/2012 - 10:49 | 2586660 roadhazard
roadhazard's picture

The People of OWS do not need a team to figure out they are being screwed daily. Everything that finally comes out just legitimizes OWS even more.

They told you so.

Wed, 07/04/2012 - 11:06 | 2586720 MillionDollarBonus_
MillionDollarBonus_'s picture

I agree. This measure wasn't strictly necessary, as the OWS movement is well-meaning and therefore their solutions are guaranteed to have positive outcomes. A predictive analysis of the policies is not required, as good intentions always lead to positive outcomes.

Yes, they did indeed tell us so. The OWS movement has been on the Libor case for many years, and now they are finally being vindicated. I'm glad to see that the Zero Hedge readership is finally waking up and joining the progressive revolution. It seems my efforts to educate readers are finally starting to pay off.

Wed, 07/04/2012 - 11:33 | 2586757 AlaricBalth
AlaricBalth's picture

MDB - This one is for you. I think you should run for President of the United Earth Directorate.

"In the earlier epochs of history, we find almost everywhere a complicated arrangement of society into various orders, a manifold gradation of social rank. In ancient Rome, we have patricians, knights, plebians, slaves; in the Middle Ages, feudal lords, vassals, guild-masters, journeymen, apprentices, serfs; in almost all of these classes, again, subordinate gradations. The modern bourgeois society that has sprouted from the ruins of feudal society has not done away with class antagonisms. It has but established new classes, new conditions of oppression, new forms of struggle in place of the old ones. Our epoch, the epoch of the bourgeoisie, possesses, however, this distinctive feature: it has simplified the class antagonisms. Society as a whole is more and more splitting up into two great hostile camps, into two great classes directly facing each other: Bourgeoisie and Proletariat."

Wed, 07/04/2012 - 16:27 | 2587463 roadhazard
roadhazard's picture

Go ahead and spin it any way you want with two faced compliments. I saw the lies in this country before OW$ by 40 years and I am glad they are finally catching up to me.

Wed, 07/04/2012 - 10:50 | 2586662 pauhana
pauhana's picture

Is anyone as surprised as I that MDB is commenting here and not on a beach somewhere, enjoying a bottle of Cristal and the company of a very expensive hooker?

Wed, 07/04/2012 - 11:09 | 2586725 kraschenbern
kraschenbern's picture

You forgot:  the common good.

Wed, 07/04/2012 - 11:11 | 2586733 overmedicatedun...
overmedicatedundersexed's picture

enough of this sociopath, blaming everyone esp his lower paid traders for all of this, I need a shower.

Wed, 07/04/2012 - 11:54 | 2586848 Liquid Courage
Liquid Courage's picture

Thus sprach Lord Keynes ... more fool he.

Wed, 07/04/2012 - 12:07 | 2586882 TheCanadianAustrian
TheCanadianAustrian's picture

One of the best trolls I've seen in a very long time. Good job.

Wed, 07/04/2012 - 09:40 | 2586473 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Friday, July 13th Silver Bomb!

Buy Silver!

Wed, 07/04/2012 - 09:49 | 2586489 THX 1178
THX 1178's picture

, crash JPM...

Wed, 07/04/2012 - 10:03 | 2586511 LULZBank
LULZBank's picture

Friday, July 13, the date to ramp up the Silver price and then lock the suckers in, again.

Now I see, how the handful of Elites are able to rule and control millions of sheeple like you.

Wed, 07/04/2012 - 10:17 | 2586550 Zero Debt
Zero Debt's picture

Once we're done investigating the Libor fix, how about investigating the gold fix? Especially the AM/PM discrepancy.

Wed, 07/04/2012 - 10:19 | 2586560 LULZBank
LULZBank's picture

Sure, but first we must put all our life's savings in PM.

Wed, 07/04/2012 - 10:38 | 2586603 Bay of Pigs
Bay of Pigs's picture

So are you a coward, stupid or just an asshole? 


Wed, 07/04/2012 - 12:26 | 2586635 The Big Ching-aso
The Big Ching-aso's picture



This genius was completely unaware of the obvious around him.  Apparently he's more like an idiot savant.

Wed, 07/04/2012 - 10:43 | 2586645 LULZBank
LULZBank's picture


What differentiates a good buy from a bad buy are price and timing.

Wed, 07/04/2012 - 10:55 | 2586680 Bay of Pigs
Bay of Pigs's picture

Golds been up 12 years in a row. Silvers performance has done very well over that time frame too, despite the ongoing COMEX fraud.  

You cost average in, there is no better "prudent" way to buy PM's over the long haul.


Wed, 07/04/2012 - 11:11 | 2586731 LULZBank
LULZBank's picture

Tell that to someone who bought silver at 40$/oz.

On a long enough timeline...

Wed, 07/04/2012 - 11:31 | 2586785 Bay of Pigs
Bay of Pigs's picture

So you're saying silver will never get above $40 again, is that your argument?

Got it. You're just another top caller then.

Wed, 07/04/2012 - 11:47 | 2586826 LULZBank
LULZBank's picture

Assumptions are mother of all fuck ups.


Why buy at $40, when you can buy at $20 is what I am saying??!

Wed, 07/04/2012 - 12:04 | 2586874 WmMcK
WmMcK's picture

Why not "buy" at both clown bux fixes, but twice as much at $20?
That makes your cost basis $26.67 clown bux, right? When the USD goes to < 1/50 oz Ag will you care much that you did not pick the absolute bottom? How about when it goes even lower or to no bid?
Don't know if/when I'll see it, maybe it'll be my kids instead --
you get the point, or perhaps someone else will.

Wed, 07/04/2012 - 11:12 | 2586734 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

How is investing in something that has no counter party risk not prudent?

Wed, 07/04/2012 - 11:14 | 2586739 LULZBank
LULZBank's picture

Are you dyslexic or just blinded by some mad passion?

I said, its about price and timing. See my post above.

Wed, 07/04/2012 - 11:32 | 2586792 WmMcK
WmMcK's picture

Why the down arrows? Have we changed so much that even 30 year old media is rejected so abruptly? Now I feel very old.

Wed, 07/04/2012 - 15:47 | 2587388 4 wheel drift
4 wheel drift's picture



it has been a soap opera for a while now....

Wed, 07/04/2012 - 09:47 | 2586487 LMAOLORI
LMAOLORI's picture

Bring back public hangings for the politicians and the thieves!

Wall Street Supporters In Congress Unmoved By Libor Probe


Wed, 07/04/2012 - 12:29 | 2586695 The Big Ching-aso
The Big Ching-aso's picture



This hearing shows that at least white-collar crime pays dividends in a ZIRP environment.

Wed, 07/04/2012 - 11:27 | 2586772 algol_dog
algol_dog's picture

It's not exactly the low ball, ass kissing they gave Jamie Dimon is it ...?

Wed, 07/04/2012 - 14:51 | 2587257 Dingleberry
Dingleberry's picture

10 to 1 nobody goes to jail.....

Wed, 07/04/2012 - 09:07 | 2586406 GeneMarchbanks
GeneMarchbanks's picture

Then tea. And female sex noises.... I meant Wimbledon!


Wed, 07/04/2012 - 09:08 | 2586408 WALLST8MY8BALL
WALLST8MY8BALL's picture

Lie on you crazy Diamond!

Do NOT follow this link or you will be banned from the site!