06-07-2012 – Surrey, Kingston Upon Thames – (Kazor.com) –
According to George Osborne , the chancellor of the country, the was no need to blame the Bank of England (BoE) in the case of the rate-rigging scam in the industry of banking but those people who were around Gordon Brown, should be put up with the blame of it. While giving an interview to the Spectator magazine, George Osborne for the very first time discussed his view after the thing that Barclays was being put into, who were being forced to lower down their rates of borrowings. They are asked to do so by the deputy governor by the Bank of England.
One of the major banks of the country Barclays has been getting an accusation that they have manipulated the rates which are known as Libor rate. Libor rates are those rates on which the banks decide the interest rate for the loans that are worth million that they offer to both customers as well as businesses. Yesterday, the bank had released a memo where it had made a suggestion that the Bank of England wanted to make a submission of lower rates of borrowings as they were facing a pressure from the side of the last Labor Government.
Nevertheless, Osborne insisted that both the regulators of the United Kingdom as well as the United States are given a clearance to the Bank of England. This is what he said while giving interview to the magazine. He was of the view that every one quite clearly knew that the BoE had not given an instruction of the Barclays bank to cut down the Libor rates.
He said all this after the fact that he knew that Bob Diamond has prepared a whole lot of evidences to put in the front of the Member of Parliament, which was the day that he has given a resignation from his post after what has happened. There are expectations that he is going to be questioned about the memo as far as his telephonic conversation with Paul Tucker is concerned, who is the deputy governor of the BoE. For easy funds apply at pounds to pockets & get quick bucks for your important needs.
In the memo of Barclay there is also a record of the senior figures of the Whitehall and on the fact that why the bank was was paying such an exorbitant rate of interest as far as their borrowings are concerned. Osborne also added this political magazine that the ex-ministers of the Labor party and their aides might also face serious questions.