The unspeakable in pursuit of a whitewash.
So Parliament is going to investigate the LIBOR rigging scandal. That’s the Tories investigating their chief funders and their own part in the fiddle, and Labour investigating their own part in the fiddle. I’m not anticipating a blockbuster outcome on this one. That they’re going ahead with a Parliamentary inquiry, despite the Attorney General warning the House of Commons that it might undermine potential criminal investigations, suggests that esteemed Parliamentarians are determined to get a certain outcome.
Here’s a suggestion: serious fraud and corruption is afoot. We have an agency specifically designed to investigate serious fraud. In fact its remit is to “encourage good corporate governance and enhance the reputation of the City of London and the UK as a safe place to do business”. It’s called the Serious Fraud Office.
Without any further delay the SFO should be put on the case with an unlimited remit. Oh hang on, the SFO is directly acountable to the Attorney General, Dominic Grieve MP. Scrub that one then.